Understanding Unemployment and Business Cycle

The video tutorial explains the business cycle, which includes phases like expansion, peak, recession, and trough. It discusses how these phases affect unemployment and inflation rates. The tutorial also defines unemployment, focusing on labor unemployment, and outlines the characteristics of unemployed individuals. Current employment trends in the Philippines are highlighted, showing a decrease in unemployment rates and a shift towards the services sector.

What does the term 'unemployment' encompass in the context of the business cycle?

• Only labor unemployment

• Only structural unemployment

• Improper use of resources

• Only technological unemployment

Which phase of the business cycle is characterized by continuous economic growth?

• Expansion

• Trough

• Peak

• Recession

What typically follows the peak phase in the business cycle?

• Trough

• Recession

• Expansion

• Stagnation

During which phase of the business cycle is the unemployment rate likely to rise?

• Trough

• Recession

• Peak

• Expansion

What happens to inflation during a recession?

• It decreases

• It becomes unpredictable

• It remains stable

• It spikes

At what age is a person considered for unemployment statistics?

• 15 years old

• 18 years old

• 21 years old

• 16 years old

Which of the following is NOT a reason for someone being unemployed?

• Temporary illness

• Retirement

• Awaiting job application results

• Lack of interest in working

What was the unemployment rate in the Philippines in January 2019?

• 10%

• 7%

• 5%

• 3%

Which sector employs the most people in the Philippines?

• Agriculture

• Manufacturing

• Construction

• Services

What percentage of people are employed in the industry sector in the Philippines?

• 19.7%

• 25.3%

• 15.4%

• 30.1%