Suppose the country of Quasiland experienced a decrease in real GDP and people were laid off from their jobs. The people would be considered part of
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) discouraged workers.

Question

Quizplus · Accepted Answer

Cyclical unemployment occurs when there is not enough demand for goods and services in the economy, leading to layoffs and a decrease in real GDP, as described in the scenario.

Suppose the Country of Quasiland Experienced a Decrease in Real