The Best Example of a Cyclically Unemployed Individual Is

question 68

Multiple Choice

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.

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Definitions:

GDP

Gross Domestic Product, the total value of all goods and services produced within a country over a specified period.

Bureau of Labor Statistics

A division of the U.S. Department of Labor that collects, analyzes, and disseminates essential statistical data on labor economics.

Unemployment Insurance

A government program that provides financial assistance to individuals who are unemployed through no fault of their own.

Spells of Unemployment

Periods during which an individual is out of work and actively seeking employment.