The following table presents historical unemployment and inflation data in the United States for the years 1974 through 1978. Year 1974 1975 1976 1977 1978 INFLATION RATE (Percent) 13 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. 12 11 10 9 00 6 5 4 Unemployment Rate (Percent) 5.6 8.5 7.7 7.1 6.1 2 3 4 Inflation Rate (Percent) 11.0 9.1 6 5.8 6.5 7.6 5 7 8 UNEMPLOYMENT RATE (Percent) 9 10 11 Data Points ?

The following table presents historical unemployment and inflation data in the United States for the years 1974 through 1978. Year 1974 1975 1976 1977 1978 INFLATION RATE (Percent) 13 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. 12 11 10 9 00 6 5 4 Unemployment Rate (Percent) 5.6 8.5 7.7 7.1 6.1 2 3 4 Inflation Rate (Percent) 11.0 9.1 6 5.8 6.5 7.6 5 7 8 UNEMPLOYMENT RATE (Percent) 9 10 11 Data Points ?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 4.9P

See similar textbooks

Similar questions

The following table shows selected data on unemployment and inflation in the United States between 1961 and 1965. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1961 6.7 1.0 1962 5.5 1.0 1963 5.7 1.3 1964 5.2 1.3 1965 4.5 1.6 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. 4.5 4.0 Data Points 3.5 3.0 2.5 2.0 1.5 1.0 0.5 1 3 4 6 7 8 UNEMPLOYMENT RATE (Percent) INFLATION RATE (Percent)
The following table presents historical unemployment and inflation data in the United States for the years 1964 through 1968. Year Unemployment Rate Inflation Rate (Percent) (Percent) 1964 5.2 1.3 1965 4.5 1.6 1966 3.8 2.9 1967 3.8 3.1 1968 3.6 4.2 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. Which of the following statements most accurately describes the relationship between inflation and unemployment in the United States during this time period? -The short-run Phillips curve shifted to the right after actual inflation was higher than expected. -The short-run Phillips curve shifted to the left after actual inflation was lower than expected. -The short-run Phillips curve…
The following table presents historical unemployment and inflation data in the United States for the years 1974 through 1978. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1974 5.6 11.0 1975 8.5 9.1 1976 7.7 5.8 1977 7.1 6.5 1978 6.1 7.6 Plot the data for these five years on the following graph. Note: You will not be graded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship between unemployment and inflation during this period and solve the problems that follow. INFLATION RATE (Percent) 6 5 13 12 Data Points 11 10 9 4 2 3 4 5 6 7 B 9 10 11 UNEMPLOYMENT RATE (Percent) Which of the following statements most accurately describes the relationship between inflation and unemployment in the United States during this time period? The short-run Phillips curve remained stable. The short-run Phillips curve shifted to the left after actual inflation was lower than expected. The short-run Phillips curve shifted to the right…
The following table shows selected data on unemployment and inflation in the United States between 1977 and 1981. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1977 7.1 6.5 1978 6.1 7.6 1979 5.8 11.3 1980 7.1 13.5 1981 7.6 10.3 Plot the data for these five years on the following graph.
The following table shows the average nominal interest rates on six-month Treasury bills (indicating the amount of interest paid by the U.S. government when it issues debt) between 1971 and 1975. The table also shows the inflation rate for the years 1971 to 1975. (All rates are rounded to the nearest tenth of a percent.) On the following graph, use the orange points (square symbol) to plot the nominal interest rates for the years 1971 to 1975. Next, use the green points (triangle symbol) to plot the real interest rates for those years. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. According to the table, in which year did buyers of six-month Treasury bills receive the highest real return on their investment? 1971 1972 1973 1974 1975
Data Analysis - Economic Growth and Unemployment [1 Question] Year 2010201120122013 2014 2015 Economic 2.7 1.7 1.3 2.7 2.5 1.9 Growth (%) Unemployment9.6 8.9 8.1 (%) 7.4 6.2 5.3 Examine the data on the economic growth and unemployment rate for 2010-2015 i) What trends do you observe In the unemployment rate? In economic growth? ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. i) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.
Construct a graph showing Russia's inflation rate from 1990 to 1990 using accurate data.
Study the associated figure. Adjusted for inflation, during which years during the period shown did the lowest gasoline prices occur? Group of answer choices Gas was cheapest in 1998 - 1999 because the graph shows that the actual price of a gallon of gas was at its lowest in that time period. Gas was cheapest in 1950 - 1952 because the graph shows that the actual price of a gallon of gas was at its lowest in that time period. Gas was cheapest in 1950 - 1952 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1998 - 1999 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1980 - 1982 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1980 - 1982 because the graph shows that the actual price of a gallon of gas was at…
The following graph shows the approximate value of the U.s. Consumer Price Index (CPI) from September 2004 through November 2005. CPI Sep 2004–Nov 2005 I(t) 202 200 198 196 194 192 190 + 188 →t 14 4 8 10 12 Sep-04 Jan-05 Nov-05 The approximating curve shown on the figure is given by I(t) = -0.005t³ + 0.12t2 – 0.01t + 190 (0 sts 14), where t is time in months since the start of September 2004. (a) Use the model to estimate the monthly inflation rate in January 2005 (t = 4). Recall that the inflation rate is I'(t) (Round your answer to three decimal places.) I(t) % (b) Was inflation slowing or speeding up in January 2005? O slowing down O speeding up (c) When was inflation speeding up? When was inflation slowing? (Use the model to determine this.) Inflation was speeding up prior to --Select--- v 2005 and slowing after --Select--- v 2005.
Data Analysis - Economic Growth and Unemployment [1 Question] Year 2010201120122013 2014 2015 2.7 1.7 1.3 2.7 2.5 Economic Growth (%) 1.9 Unemployment9.6 8.9 8.1 7.4 6.2 5.3 (%) Examine the data on the economic growth and unemployment rate for 2010-2015 i) What trends do you observe In the unemployment rate? In economic growth? ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.
Only typed answer According to the most recent survey conducted by Statistics Bureau of Metropolis, currently there are 14 million people between the age of 15 and 64 living in the city. If the labour force participation rate in Metropolis is 65 percent and 8.5 million people currently have jobs, what is the rate of unemployment? Options: A) 3.7% B) 7.8% C) 6.6% D) 11.4% E) 12.9% Show all working out and full explanations
Data Analysis Unemployment and Inflation [1 Question] Monthly Unemployment 2014 – 2015 Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 6.6 6.7 6.7 6.2 6.2 6.1 6.2 6.2 6.0 5.7 5.8 5.6 2015 5.7 5.5 5.5 5.4 5.5 5.3 5.3 5.1 5.1 5.0 5.0 5.0 Monthly Inflation Rate 2014 - 2015 Year Jan Feb MarApr MayJun Jul Aug Sep Oct NovDec 2014 1.6 1.6 1.7 1.8 2.0 1.9 1.9 1.7 1.7 1.8 1.7 1.6 2015 1.6 1.7 1.8 1.8 1.7 1.8 1.8 1.8 1.9 1.9 2.0 2.1 Examine the monthly data on the unemployment rate and the inflation rate for 2014-2015 i) What trends do you observe in the unemployment rate? In the inflation rate? ii) Identify the relationship between Inflation and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between inflation and unemployment? Use references to support your answer.