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Question : Unemployment caused by the recession of 2008-2010 is an example of which of the following types of unemployment?

Option 1: Classical

Option 2: Cyclical

Option 3: Frictional

Option 4: Structural


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Cyclical


Solution : The correct answer is Cyclical .

The unemployment caused by the recession of 2008-2010 is an example of cyclical unemployment. It occurs as a result of fluctuations in the business cycle, specifically during economic downturns or recessions. When the overall economy contracts, businesses may reduce production, leading to layoffs and increased unemployment.

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