Cyclical unemployment occurs when the economy slows down and mid managers, for example, are laid off.

Question

Quizplus · Accepted Answer

Cyclical unemployment is a type of unemployment that occurs due to fluctuations in the business cycle, meaning that when the economy slows down, businesses may have to lay off workers, leading to an increase in unemployment. Mid managers are often among those who may be laid off during a downturn in the economy. Therefore, the statement is true.

Cyclical Unemployment Occurs When the Economy Slows Down and Mid