Use these graphs to determine the stage of the business cycle that the U.S. is currently experiencing. Explain your response.
The 1990-1991 recession ended in March 1991, but the perception of "bad economic times" lingered into 1992. What evidence do these graphs provide concerning the lingering perception of a recession? Hint: contrast the performance of the unemployment rate and the level of real GDP during 1991 and early 1992.
