Question: The accompanying table provides data from Canada on the average annual rates of unemployment and inflation rate. Use the numbers to construct a scatter plot

The accompanying table provides data from Canada on the average annual rates of unemployment and inflation rate. Use the numbers to construct a scatter plot similar to Figure 16-5. Discuss why, in the short run, the unemployment rate rises when inflation falls.

Year Unemployment rate Inflation rate 2006 6.3% 2.2% 2007 6.0 2.2 2.3 2008 6.1 2009 8.3 0.3 2010 8.1 1.8 2011 7.5 2.9 7.

Year Unemployment rate Inflation rate 2006 6.3% 2.2% 2007 6.0 2.2 2.3 2008 6.1 2009 8.3 0.3 2010 8.1 1.8 2011 7.5 2.9 7.3 1.5 2012 0.9 2013 7.1 2014 6.9 2.0 2015 6.9 1.1 2016 7.0 1.4

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