Based on the graph above indicate whether the following statements are true or false - Junior Cycle Business Studies - Question 14 - 2022
Question 14
Based on the graph above indicate whether the following statements are true or false. Tick (✓) the correct box.
Statement
The unemployment rate was closest to full ... show full transcript
Worked Solution & Example Answer:Based on the graph above indicate whether the following statements are true or false - Junior Cycle Business Studies - Question 14 - 2022
Step 1
The unemployment rate was closest to full employment in 2019.
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Answer
In 2019, the unemployment rate was 4.8%, which is the lowest value over the period. Since full employment is generally considered to be around 4% or lower, this statement is True.
Step 2
The unemployment rate decreased in 2020 from the previous year.
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Answer
The unemployment rate increased to 7.2% in 2020, which is higher than the 4.8% in 2019. Therefore, this statement is False.
Step 3
There was a positive trend in the unemployment rate for 2021 when compared with the previous year.
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Answer
The unemployment rate in 2021 was 5.2%, which is lower than the 7.2% in 2020. This indicates that there was a positive trend in reducing unemployment, making this statement True.
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