Economics, 3rd Edition

T

f G

h

FIGURE 2A.2

6.0

6.5

7.0

7.5

8.0

8.5

9.0

9.5

10.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

EU 27 Unemployment Rate (%) 2000–2011

(c)

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

11.0

12.0

13.0

14.0

15.0

16.0

17.0

18.0

19.0

20.0

2000 2001 2002 2003 2004 2005 2006

(d)

2007 2008 2009 2010 2011

EU27 Unemployment Rate (%) 2000–2011

0.00

0.50

1.00

1.50

2.00

2.50

2010:

15 Jan

5 Mar

2 Apr

7 May

2011:

7 April

(b)

7 Jul

3 Nov

8 Dec

2012:

5 Jul

ECB Base Rate (%) 2010–2012

(a)

G7 countries, investment

(% share of GDP, 2011)

UK

US

J

G

Fr

It

Can

15.2

12.8

21.1

16.8

19.8

19.7

21.2

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CHAPTER 2  THINKING LIKE AN ECONOMIST  33

each country’s proportion of investment. The bar graph in panel (b) shows the interest rate set by the 

European Central Bank (ECB) between January 2010 and July 2012. The interest rate is on the vertical 

axis represented as a percentage and the time period is on the horizontal axis. The height of each bar 

represents the interest rate. The time-series graph in panel (c) traces the unemployment rate in the 

27 EU countries between 2000 and 2011. The unemployment rate as a percentage is represented on 

the vertical axis and the year is on the horizontal axis. The height of the line shows the unemployment 

rate each year.