Figure 7.7: Unemployment Rate 1975-2015

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Consider Figure 7.7 above, which shows the unemployment rate from 1975-2015.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1996-2002 an expansion or recession? Explain. What about the period 2007-2013? 2013-2015?
(c) Based on the data presented, what is your prediction for future rates of unemployment?

Question

Figure 7.7: Unemployment Rate 1975-2015

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Consider Figure 7.7 above, which shows the unemployment rate from 1975-2015.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1996-2002 an expansion or recession? Explain. What about the period 2007-2013? 2013-2015?
(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 1975-2015

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Consider Figure 7.7 above, which shows the unemployment rate from 1975-2015.
(a) What does the dashed line represent? How can it be represented?
(b) Based solely on this data, was the period from approximately 1996-2002 an expansion or recession? Explain. What about the period 2007-2013? 2013-2015?
(c) Based on the data presented, what is your prediction for future rates of unemployment?