1. The inflation-unemployment relationshipThe following graph shows the combinations of unemployment and inflation that existed in the United States for selected years between 1961 and1969.Click on any blue point (circle symbol) on the graph to get its exact coordinates. You can also use the black point (cross symbol) to find thecoordinates of other points along the curve. (Note: You will not be graded for any adjustments made to the graph.)NFLATION RATE (Percent)5.04.54.03.53.02.5201.51.00.503.03.519691968196719654.019644.56.0UNEMPLOYMENT RATE (Percent)5.05.519636.519617.0? What happened to the inflation rate between 1965 and 1969?The inflation rate decreased from 1.9% to 1.5%.The inflation rate increased from 2.9% to 4.3%.The inflation rate decreased by 2 percentage points.The inflation rate increased by 3 percentage points.If the inflation rate had been 3.5% during the 1960s, the unemployment rate would most likely have been:4.5%3.7%6.5%5.0%

According to the Phillips curve there is an inverse relationship between inflation and unemployment.…

1. The inflation-unemployment relationship The following graph shows the combinations of unemployment and inflation that existed in the United States for selected years between 1961 and 1969. Click on any blue point (circle symbol) on the graph to get its exact coordinates. You can also use the black point (cross symbol) to find the coordinates of other points along the curve. (Note: You will not be graded for any adjustments made to the graph.) 1969 (?)

1. The inflation-unemployment relationship The following graph shows the combinations of unemployment and inflation that existed in the United States for selected years between 1961 and 1969. Click on any blue point (circle symbol) on the graph to get its exact coordinates. You can also use the black point (cross symbol) to find the coordinates of other points along the curve. (Note: You will not be graded for any adjustments made to the graph.) 1969 (?)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1
The following graph shows the combinations of unemployment and inflation that existed in the United States from 1961 through 1969. NFLATION RATE (Percent) 5.0 4.5 4.0 3.5 2.5 2.0 1.5 1.0 0.5 0 3.0 * 3.5 69 68 ++ 67 66 *65 5.5, 1.4 64 + 62 + 5.0 + 63 4.0 4.5 5.5 6.0 UNEMPLOYMENT RATE (Percent) 61 + 6.5 7.0
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2. The inflation-unemployment relationship The following graph shows the combinations of unemployment and inflation that existed in the United States for selected years between 1961 and 1969. Click on any blue point (circle symbol) on the graph to get its exact coordinates. You can also use the black point (cross symbol) to find the coordinates of other points along the curve. (Note: You will not be graded for any adjustments made to the graph.) INFLATION RATE (Percent) 5.0 1969 4.5 4.0 3.5 1968 + 1967 3.0 - 2.5 2.0 1.5 1.0 0.5 1985 1964 1983 1961 0 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 UNEMPLOYMENT RATE (Percent) What happened to the inflation rate between 1965 and 1969? The inflation rate decreased from 1.9% to 1.5%. The inflation rate increased by 3 percentage points. The inflation rate decreased by 2 percentage points. O The inflation rate increased from 2.9% to 4.3%. ?
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