Related to the Economics in Practice on p. 125: Survey data suggests that during the recession of 2008-2009, the hours that those who were unemployed lost to the formal market were primarily spent on
A) job search.
B) increased education.
C) leisure activities.
D) non-market work.

Question

Quizplus · Accepted Answer

During the recession of 2008-2009, the hours lost to the formal market by those who were unemployed were primarily spent on leisure activities, as indicated by survey data. This reflects a shift in time allocation towards activities that do not contribute to the formal economy.

Related to the Economics in Practice on P