Question: Create a plot that shows the index values for real GDP for both recessions. You can use the numbers provided under Quarters after Start of

Create a plot that shows the index values for real GDP for both recessions. You can use the numbers provided under Quarters after Start of Recession for the values to report on the horizontal axis. Do the same for the index values for employment and for average labor productivity

YNY/NQuarters after Start of Recession
2007-10-011002007-10-011002007-10-011000
2008-01-0199.42522008-01-0199.550912008-01-0199.873721
2008-04-0199.938462008-04-0198.742282008-04-01101.21142
2008-07-0199.397282008-07-0196.966952008-07-01102.50643
2008-10-0197.246542008-10-0196.147812008-10-01101.14284
2009-01-0196.154682009-01-0195.53062009-01-01100.65335
2009-04-0196.016372009-04-0194.820882009-04-01101.26086
2009-07-0196.365942009-07-0194.973012009-07-01101.46677
YNY/N
2019-10-011002019-10-011002019-10-01100
2020-01-0198.696422020-01-0199.431492020-01-0199.26072
2020-04-0189.875672020-04-0186.767682020-04-01103.582
2020-07-0196.659072020-07-0192.21352020-07-01104.821
2020-10-0197.737082020-10-0194.465672020-10-01103.4631
2021-01-0199.236262021-01-0194.846212021-01-01104.6286
2021-04-01100.86452021-04-0195.535832021-04-01105.5777
2021-07-01101.3692021-07-0196.604092021-07-01104.9324

b. Based upon your plots, which recession experienced the deepest decline in real GDP and which recession experienced the quickest recovery back towards its value prior to the start of the recession? Briefly explain your reasoning.

c. Based upon your plots, which recession experienced the deepest decline in employment and which recession experienced the quickest recovery back towards its value prior to the start of the recession? Briefly explain your reasoning. d. Based upon your plots, which recession experienced the deepest decline in average labor productivity and which recession experienced the quickest recovery back towards its value prior to the start of the recession? Briefly explain your reasoning.

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Stepbystep explanation a In order to draw the graph we will arrange the data in the format mentioned in the table below Quarters after Start of Recession Real GDP for Great Recession Real GDP for Covi... View full answer

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