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Chapter 10: Problem 10

The misery index was highest in which of these years? (LO8) a) 1960 b) 1970 c) 1980 d) 1990 e) 2000

Short Answer

Expert verified
The misery index is the sum of the unemployment rate and the inflation rate for a given year. After gathering the necessary data for each year (either given or searched online) and calculating the misery index for each of the years, compare the values to determine which year had the highest misery index. Without the actual data, we are unable to provide the specific year with the highest misery index from the given options.

Step by step solution

01

Gather Data

To solve this problem, find the unemployment rate and inflation rate for each of the given years. This data can be found online on various official statistics websites or in textbooks.
02

Calculate the Misery Index for Each Year

After gathering the necessary data, calculate the misery index for each year by adding the unemployment rate and the inflation rate. Misery Index = Unemployment Rate + Inflation Rate
03

Compare

Now that we have the misery index for each year, compare the numbers to determine which year had the highest index.
04

Select the Answer

After comparing the misery index values, choose the year with the highest misery index as the answer to the question.

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