Asked by Morgan Rutter on Jun 14, 2024
Verified
We have had a downward trend in the unemployment rate since the 1980's until the increase occurring in
A) 1991.
B) 2001.
C) 2007.
D) 2009.
Unemployment Rate Trend
The direction and pattern over time in the unemployment rate, indicating whether joblessness is increasing, decreasing, or remaining stable within an economy.
1980's
A decade known for significant economic, political, and cultural events and developments worldwide.
Downward Trend
Describes a situation where there is a consistent decline in the value or level of a financial instrument, market index, or economic performance over time.
- Examine the elements that influence business cycles and their effect on joblessness.
Verified Answer
LC
Lauryn ClinkscalesJun 20, 2024
Final Answer :
D
Explanation :
The unemployment rate began to increase in 2007 and reached its peak in 2009 during the Great Recession, making choice D the correct one.
Learning Objectives
- Examine the elements that influence business cycles and their effect on joblessness.