Question

This graph shows the changing unemployment rate in the United States.

Answer 1

Based on this graph, what can be concluded about the economy between 1991 and 2008 that  the economy was getting weaker because employment was low.

Further Explanations:

United States had a diverse economic state since its independence. It experienced both a booming economy and a devastating “Great Depression”. It managed to establish a moneymaking and thriving economy prior to the war with industrial manufacture at its maxim peak. In 1917, it emerged as the foremost investor of the world and used to give loans to other nations to reconstruct the economy but due to lack of its repayment on time,it faced the fall of Currency. This fall of currency is also termed as the Great Depression of the United States.

As per the graph stated above, we can conclude that the economy of the United States became weaker due to depreciation in the employment rate. Employment rate plays a vital role in balancing the economy of a nation as it has a ripple effect on society. As the employment rate reduces thus the amount of tax collected also reduces which in other results in the downfall of the GDP of the country.  

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Answer Details-  

Grade: High School

Subject: History

Chapter: Economy

Keywords:

United States, independence, Great Depression,reconstruct ,economy, Currency, Great Depression, depreciation, employment rate, GDP

Answer 2

ANSWER: C) The economy was getting weaker because employment was low.

EXPLANATION: The economy gets weaker as the employment graph goes down. Unemployment has a ripple effect in the society as well as on the economy of the country. For example, if one person becomes unemployed because of any reason and there is no one to fill the gap, then the state is losing a person's taxes and subsequent revenues. Also, we can assume that there will be less productivity because of his absence. So, when many people goes unemployed, the country loses a significant portion of taxes of those residents. This causes a downfall in the GDP of the country.