Question : The rise in unemployment in India due to the 2008 financial crisis was an example of:
Option 1: involuntary unemployment
Option 2: seasonal unemployment
Option 3: cyclical unemployment
Option 4: structural unemployment
Correct Answer: cyclical unemployment
Solution : The correct option is cyclical unemployment .
Cyclical unemployment was demonstrated by the increase in joblessness in India following the 2008 financial crisis. An example of unemployment that results from variations in the business cycle is cyclical unemployment. It is directly correlated with the state of a nation's economy as a whole, rising in times of recession or downturn and falling in times of growth.
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