Question: A student looking at Figure 6.2 (given below) argues that Spain must have very high cyclical unemployment compared to Japan because the Spanish unemployment rate

A student looking at Figure 6.2 (given below) argues that Spain must have very high cyclical unemployment compared to Japan because the Spanish unemployment rate is so high. Explain why the student could be right or could be wrong.
Figure 6.2

24 - 21 18 15 12 12.9 10.3 8.4 8.1 7.0 6.4 5.8 6L 5.7 4

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