Figure 7.7: Unemployment Rate 1975-2012 (Source: U.S. Bureau of Labor Statistics)
-Consider Figure 7.7, which shows the unemployment rate from 1975-2012.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1985-1991 an expansion or recession? Explain. What about the period 2007-2010?
(c) Based on the data presented, what is your prediction for future rates of unemployment?

Question

Figure 7.7: Unemployment Rate 1975-2012  (Source: U.S. Bureau of Labor Statistics)
-Consider Figure 7.7, which shows the unemployment rate from 1975-2012.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1985-1991 an expansion or recession? Explain. What about the period 2007-2010?
(c) Based on the data presented, what is your prediction for future rates of unemployment?

Quizplus · Accepted Answer

The Answer of Figure 7.7: Unemployment Rate 1975-2012  (Source: U.S. Bureau of Labor Statistics)
-Consider Figure 7.7, which shows the unemployment rate from 1975-2012.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1985-1991 an expansion or recession? Explain. What about the period 2007-2010?
(c) Based on the data presented, what is your prediction for future rates of unemployment?

Figure 77: Unemployment Rate 1975-2012 (Source: U