Assuming that a recession period is equal to 2 quarters of negative GDP growth (hence negative growth rate), use the following graph (Percent change in Iceland's Real GDP) to find:

1. How many recessions has Iceland's economy undergone over the years plotted in the chart?
2. What are the two biggest recessions in terms of length and magnitude that have occurred in Iceland?

Image attached:

15 Percent Change from Year Ago of (Millions of Chained 10 5 2010 National Currency) 0 -5 -10 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018