Figure 9-2 
-Refer to the Figure 9-2.If the minimum wage fell from $7 to $5,what would happen to unemployment?
Definitions:
Misery Index
An economic indicator created by adding the unemployment rate to the inflation rate, intended to measure economic discomfort.
Year
A period of time equal to 365 days, or 366 in leap years, used for calculating time in calendar terms.
Recession
An interim period of economic fallback, where there’s a noticeable dip in commercial and industrial outputs, customarily marked by a decrease in GDP in two successive quarters.
Depression
a severe and prolonged downturn in economic activity, characterized by significant fall in spending and high unemployment.
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