QQuestionEconomics
QuestionEconomics
"Which of the following is an example of cyclical unemployment?
A. A factory worker losing his or her job because of a recession
B. A fast-food cook quitting his or her job to seek a better-paying job
C. A librarian losing his or her job because of new technology
D. A tourist guide losing his or her job when tourism drops in the winter"
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Answer
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Step 1: Identify the options that involve job losses due to factors other than cyclical unemployment.
Cyclical unemployment is the difference between the actual and natural rates of employment in an economy, which occurs due to the business cycle. It rises during recessions and falls during economic expansions.
Final Answer
Cyclical unemployment is the difference between the actual and natural rates of employment in an economy, which occurs due to the business cycle. It rises during recessions and falls during economic expansions.
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