The impact of recession
A) is, in the aggregate, a more significant factor in social welfare than long run growth
B) is more severe for professionals than for semi-skilled manual laborers
C) is more severe for skilled workers than for unskilled workers
D) causes larger declines in consumption among those aged 26 to 45 than among teenagers
E) is most severe for the poorest members of society

Question

Quizplus · Accepted Answer

Recession affects the poorest members of society the most. This is because they are often employed in low-paying jobs that are more vulnerable to layoffs and have limited savings to fall back on during tough economic times. Additionally, they may have limited access to health care, education, and other basic necessities that become even more difficult to obtain during a recession. Therefore, the impact of recession is most severe for the poorest members of society.

The Impact of Recession