In Figure 1.6, does unemployment change more rapidly when it is increasing, or when it is decreasing?

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In Figure 1.6, does unemployment change more rapidly when it is increasing, or when it is decreasing? Speculate on why this regularity might be observed in the data.


Figure 1.6:

11 10 4 1940 1950 1960 1970 1980 1990 2000 2010 2020 Year Unemployment Rate in Percent

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Macroeconomics

ISBN: 978-0134472119

6th Edition

Authors: Stephen D. Williamson

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