Chapter 11.1, Problem 58E

Work these exercises.

Economic Expansion A period of U.S. economic expansion began in June 2009, indicated by $t=0$ in the accompanying figure. Employment figures are indexed to 100 at the start of the expansion. The function c(t) represents the employment index during the current economic expansion; m(t) represents the minimum values from the previous ten expansions; M(t) represents the maximum values from the previous ten expansions; and a(t) represents the average values from the previous ten expansions. Use the figure to approximate the following quantities. (Data from: Federal Reserve Economic Research.)

a. $\underset{t\to 42}{\lim }\left[c\left(t\right)-a\left(t\right)\right]$

b. $\underset{t\to 42}{\lim }\left[c\left(t\right)-m\left(t\right)\right]$

c. $\underset{t\to 42}{\lim }\left[c\left(t\right)-M\left(t\right)\right]$