$2.$ This is a three$-$part question. In Canvas notes, I refer to the textbook's plot of the "Real Economy $($Over Time...$),"$ See pg$.503($Mankiw$,10\backslash (\{\}^\{\backslash$text $\{$th $\}\}\backslash )$ ed$.),$ showing Real GDP from $1970-2020.$ The plot shows approximate, average $3\backslash \%$ growth per annum. Yet people remain dissatisfied perhaps for $2$ reasons.

a$.(4$ points$)[$Students who have an earlier edition of the text should find a classmate with the $\backslash (10^\{\backslash$text $\{$th $\}\}\backslash )$ edition.$]$ Using paper and pencil, replicate the graph. Notate by drawing arrows to periods where there was a contraction in the economy. Indicate whether the contraction constituted a recession using the standard, widely $($though not universally$)$ accepted definition of a recession.

b$.(3$ points$)$ Explain why and how people's tendency to be risk averse makes them dissatisfied even when the economy has, over $50$ years, experienced only a small number of recessions and an average increase in GDP per year. Recommend using a depiction to explain risk aversion.

c$.(3$ points$)$ Reasons other than risk aversion that might leave people dissatisfied with an economy of significant GDP growth and few recessions. Name and briefly explain three $(3)$ reasons.