An example of a cyclically unemployed individual is
A)Charles who lost his job as a real estate salesperson when the housing market went soft.
B)Alice who quit her job to enter college.
C)Mary who lost her job in the textile industry following a decrease in the tariff on textiles.
D)Bob who has just graduated from college and is entering the labour market.

Question

Quizplus · Accepted Answer

Cyclical unemployment occurs when there is not enough demand for goods and services in the economy, leading to job losses. Charles losing his job due to a downturn in the housing market is an example of cyclical unemployment, as his job loss is directly tied to a decrease in economic activity in his sector.

An Example of a Cyclically Unemployed Individual Is