GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Seasonal
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Frictional
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Structural
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Cyclical
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Detailed explanation-1: -Cyclical unemployment refers to the unemployment which is caused by the changes in business cycles, that is economic upturn or downturn. Cyclical unemployment is a component of overall unemployment and is affected by the economic recession or expansion.
Detailed explanation-2: -In December 2007, the national unemployment rate was 5.0 percent, and it had been at or below that rate for the previous 30 months. At the end of the recession, in June 2009, it was 9.5 percent. In the months after the recession, the unemployment rate peaked at 10.0 percent (in October 2009).
Detailed explanation-3: -Cyclical unemployment Cyclical, deficient-demand, or Keynesian unemployment occurs when there is not enough aggregate demand in the economy to provide jobs for everyone who wants to work.