The best example of a cyclically unemployed individual is
A) Charles who lost his job as a real estate salesperson when the housing market went soft because of a recession.
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 labor 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 recession in the housing market is a classic example of cyclical unemployment, as his job loss is directly tied to a downturn in economic activity.

The Best Example of a Cyclically Unemployed Individual Is