What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included?How does the unemployment rate react during the two main recessions you have identified?What was the level of the unemployment rate during the first and the last quarter of negative growth for those two recessions? What do you conclude about the link between recession and the variation in unemployment? FREDReal Gross Domestic Product for FranceUnemployment Rate: Aged 15-74: All Persons for France5040302010-10-20198019851990199520002005201020152020Sources: OECD, Eurostatfred.stlouisfed.orgPercent Change from Year Ago

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What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 4SQ

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Question

What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included?
How does the unemployment rate react during the two main recessions you have identified?
What was the level of the unemployment rate during the first and the last quarter of negative growth for those two recessions?
What do you conclude about the link between recession and the variation in unemployment?

FRED
Real Gross Domestic Product for France
Unemployment Rate: Aged 15-74: All Persons for France
50
40
30
20
10
-10
-20
1980
1985
1990
1995
2000
2005
2010
2015
2020
Sources: OECD, Eurostat
fred.stlouisfed.org
Percent Change from Year Ago

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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