Analyze the following graph to answer the following question…
Analyze the following graph to answer the following question: In February of 2000 (Q1-First Quarter), the civilian unemployment rate was 4.1%. In fact, the civilian unemployment rate averaged 4.0% for the year 2000. The target rate of unemployment (Natural Rate of Unemployment depicted in the graph above) estimated by the Congressional Budget Office was 5.01% during that time period. Question: Based off of the information presented, which of the following observations of data would be the most consistent with standard economic theory?