You are given the U.S. employment data in Figure 9.3 below by your uncle, and he is curious to know what was happening to the economy in 1996-2000 and 2007-2009. You might not remember, but you tell him you can explain what happened to the employment rate, the output gap, and inflation. What do you tell him? Your uncle likes economics, so some mathematical relationships would probably help your argument.Figure 9.3: Percent Change in U.S. Employment: 1980-2015

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The Answer of You are given the U.S. employment data in Figure 9.3 below by your uncle, and he is curious to know what was happening to the economy in 1996-2000 and 2007-2009. You might not remember, but you tell him you can explain what happened to the employment rate, the output gap, and inflation. What do you tell him? Your uncle likes economics, so some mathematical relationships would probably help your argument.Figure 9.3: Percent Change in U.S. Employment: 1980-2015

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