Answer:
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Step-by-step explanation:
No, the GDP gap does not measure all of the costs of unemployment. While the GDP gap does measure the loss of output that results from unemployment, it does not capture other costs of unemployment, such as the social and personal costs that individuals and families face when they are unemployed. For example, unemployment can lead to decreased living standards, mental and physical health problems, increased crime rates, and social disintegration, among other things. Therefore, while the GDP gap provides an important measure of the economic impact of unemployment, it does not provide a complete picture of the costs of unemployment.