Which of the Following Best Describes Cyclical Unemployment

question 14

Multiple Choice

Which of the following best describes cyclical unemployment?

• A) It occurs during the expansionary phase of the business cycle.
• B) It is greatest at the peak of the business cycle.
• C) It is caused by a lack of jobs.
• D) Workers suffering from this type of unemployment may need retraining.

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Definitions:

Double Payment

A financial error where a payment is mistakenly sent or processed twice for the same invoice or obligation.

Checks Cleared

The process by which banks settle transactions, transferring money from the check writer's account to the beneficiary's account once the check is presented for payment.

Bank Reconciliation

The practice of aligning and scrutinizing numbers from financial records with the ones on a bank statement to guarantee they match.

Outstanding Checks

Checks that have been issued and recorded in the account holder's ledger but have not yet been cashed or cleared by the bank.