according to this chart, what was the unemployment rate during the peak of the business cycle? year price…

according to this chart, what was the unemployment rate during the peak of the business cycle? year price level real gdp unemployment rate 1992 132 4.50% 4% 1993 135 6% 3% 1994 134 -3% 5% 1995 135 2% 7% 1996 136 2.50% 6% 7% 5% 3% 6% 4% next

according to this chart, what was the unemployment rate during the peak of the business cycle? year price level real gdp unemployment rate 1992 132 4.50% 4% 1993 135 6% 3% 1994 134 -3% 5% 1995 135 2% 7% 1996 136 2.50% 6% 7% 5% 3% 6% 4% next

Answer

Explanation:

Step1: Identify the highest rate

Find the maximum value in the 'Unemployment Rate' column. The values are 4%, 3%, 5%, 7%, 6%. The maximum is 7%.

Answer:

7%