Business, 08.04.2020 01:27 brooklyn5150
Historical data shows that during the recession of 1990β1991, the natural rate of unemployment was about 5.9% while the actual unemployment rate was 7.0%. A decade later, during the 2001 recession, the natural rate of unemployment fell to 4.8% while actual unemployment was 6.0%. Which of the following statements is correct regarding these two short recessions?
a. The actual unemployment rate was higher during the recession of 1990-1991, but cyclical unemployment was higher in 2001.
b. Both the actual unemployment rate and cyclical unemployment were higher in 2001.
c. The actual unemployment rate was higher in 2001, but cyclical unemployment was higher from 1990-1991.
d. Both the actual unemployment rate and cyclical unemployment were higher during the recession of 1990-1991.
Answers: 2
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Business, 22.06.2019 16:10
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