00:01
So here we are talking about recessions, right? and let's just remember, right? recessions mean there is a contraction in the economy.
00:10
So the economy is not as big.
00:12
It's not producing as much, right? less production is occurring.
00:17
There are, you know, the economy is shrinking in its ability to produce goods and services.
00:21
So let's go through each of these and see which of these is true, right? the first one suggests that, a, you are going to have few, are unemployed.
00:31
Well, this is just outright wrong, right? this is the opposite of what you would expect, right? you should expect less need for workers.
00:44
So in a recession, when the economy goes bad, normally you have layoffs, right? employers are shrinking their operations.
00:52
They don't need as many workers and they usually lay people off.
00:55
So you'd expect unemployment to actually increase.
01:01
B suggests fewer discouraged.
01:04
Now this is also wrong, right? and again, it's the opposite, right? it is easier to, right? there is less hiring, and there are also more job seekers, right, in a recession.
01:23
This is what we just said.
01:25
Firms are laying people off...