Question: You are given the data in Table 2.7 for the United States for years 19802006. a. Plot the male civilian labor force participation rate against

You are given the data in Table 2.7 for the United States for years 1980€“2006.

a. Plot the male civilian labor force participation rate against male civilian unemployment rate. Eyeball a regression line through the scatter points. A priori, what is the expected relationship between the two and what is the underlying economic theory? Does the scattergram support the theory?

UNRM3 CLFPRM' CLFPRF? UNRF4 АНЕ825 АНЕБ Year 6.840000 7.430000 1980 77.40000 51.50000 6.900000 7.400000 7.400000

b. Repeat (a) for females.
c. Now plot both the male and female labor participation rates against average hourly earnings (in 1982 dollars). (You may use separate diagrams.) Now what do you find? And how would you rationalize your finding?
d. Can you plot the labor force participation rate against the unemployment rate and the average hourly earnings simultaneously? If not, how would you verbalize the relationship among the three variables?

UNRM3 CLFPRM' CLFPRF? UNRF4 825 Year 6.840000 7.430000 1980 77.40000 51.50000 6.900000 7.400000 7.400000 7.900000 7.990000 1981 77.00000 52.10000 7.880000 1982 76.60000 52.60000 9.900000 9.400000 7.860000 7.860000 1983 76.40000 52.90000 9.900000 9.200000 7.950000 8.190000 76.40000 1984 53.60000 7.400000 7.600000 7.950000 8.480000 8.730000 8.920000 1985 7.910000 76.30000 54.50000 7.000000 7.400000 1986 76.30000 55.30000 6.900000 7.100000 7.960000 76.20000 1987 56.00000 6.200000 6.200000 7.860000 9.130000 5.500000 1988 76.20000 56.60000 5.600000 7.810000 9.430000 76.40000 5.400000 1989 57.40000 5.200000 7.750000 9.800000 1990 76.40000 57.50000 5.700000 5.500000 7.660000 10.190000 1991 75.80000 57.40000 7.200000 6.400000 7.000000 7.580000 10.500000 75.80000 1992 57.80000 7.900000 7.550000 10.760000 1993 75.40000 57.90000 7.200000 6.600000 7.520000 11.030000 11.320000 58.80000 1994 75.10000 6.200000 6.000000 7.530000 1995 75.00000 58.90000 5.600000 5.600000 7.530000 11.640000 74.90000 7.570000 12.030000 1996 59.30000 5.400000 5.400000 5.000000 1997 75.00000 59.80000 4.900000 7.680000 12.490000 1998 74.90000 59.80000 4.400000 4.600000 7.890000 13.000000 1999 74.70000 60.00000 4.100000 4.300000 8.000000 13.470000 2000 74.80000 59.90000 3.900000 4.100000 8.030000 14.000000 74.40000 59.80000 2001 4.800000 4.700000 8.110000 14.530000 14.950000 2002 74.10000 59.60000 5.900000 5.600000 8.240000 8.270000 2003 73.50000 59.50000 6.300000 5.700000 15.350000 2004 73.30000 59.20000 5.600000 5.400000 8.230000 15.670000 59.30000 2005 73.30000 5.100000 5.100000 8.170000 16.110000 2006 73.50000 59.40000 4.600000 4.600000 8.230000 16.730000

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