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You are given the data in Table 2.7 for the United States for years 1980-1996.
TABLE 2.7 LABOR FORCE PARTICIPATION DATA
Year
CLFPRM1
CLFPRF2
UNRM3
UNRF4
AHE825
AHE6
1980
77.4
51.5
6.9
7.4
7.78
6.66
1981
77.0
52.1
7.9
7.69
7.25
1982
76.6
52.6
9.9
9.4
7.68
1983
76.4
53.9
9.2
7.79
8.02
1984
53.6
7.6
7.80
8.32
1985
76.3
54.5
7.0
7.77
8.57
1986
55.3
7.1
7.81
8.76
1987
76.2
56.0
6.2
7.73
8.98
1988
56.6
5.5
5.6
9.28
1989
57.4
5.2
5.4
7.64
9.66
1990
57.5
5.7
7.52
10.01
1991
75.8
7.2
6.4
7.45
10.32
1992
57.8
7.41
10.57
1993
75.4
57.9
6.6
7.39
10.83
1994
75.1
58.8
6.0
7.40
11.12
1995
75.0
58.9
11.44
1996
74.9
59.3
7.43
11.82
a. Plot the male civilian labor force participation rate against male civil- ian unemployment rate. Eyeball a regression line through the scatter points. A priori, what is the expected relationship between the two and what is the underlying economic theory? Does the scattergram support the theory?
b. Repeat part a for females.
c. Now plot both the male and female labor participation rates against average hourly earnings (in 1982 dollars). (You may use separate dia- grams.) Now what do you ?nd? And how would you rationalize your ?nding?
d. Can you plot the labor force participation rate against the unemploy- ment rate and the average hourly earnings simultaneously? If not, how would you verbalize the relationship among the three variables?
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