3. Write a short explanation of how economists use graphs. 4. Explain the rational-behavior model. Give...

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3. Write a short explanation of how economists use graphs. 4. Explain the rational-behavior model. Give an example from your own life in which you have used, or applied, this model. 2. Follow these steps to create a graph. Draw a coordinate system with an x- and y-axis. Examine the data to be graphed (in the table below). Determine an appropriate title for each axis. Graph the data. U.S. Unemployment Rate, 1950-2010 10 5 Year Unemployment Rate 1950 5.21% 1960 5.54% 1970 4.98% 1980 7.18% 1990 5.62% 2000 3.97% 2010 9.63% 45 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 3. Write a short explanation of how economists use graphs. 4. Explain the rational-behavior model. Give an example from your own life in which you have used, or applied, this model. 2. Follow these steps to create a graph. Draw a coordinate system with an x- and y-axis. Examine the data to be graphed (in the table below). Determine an appropriate title for each axis. Graph the data. U.S. Unemployment Rate, 1950-2010 10 5 Year Unemployment Rate 1950 5.21% 1960 5.54% 1970 4.98% 1980 7.18% 1990 5.62% 2000 3.97% 2010 9.63% 45 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010