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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


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Team Careers360 5th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

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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