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Choose the correct statement: Group of answer choices During a recession, as economic activity slows down and real GDP falls, the number of employed people
Choose the correct statement: Group of answer choices During a recession, as economic activity slows down and real GDP falls, the number of employed people and jobs available in the economy is expected to decline. During the pandemic recession, the employment-population ratio drastically declined. From April 2019 to April 2020, the ratio dropped from 60.6% to 51.3%. It took until March 2022 for the ratio to climb up to 60%. During the Great Recession, the employment-population ratio for men declined by 6.3%, down to 63.3% in Dec 2009, while the ratio for women declined by 3.1%, down to 53.5%. During the recovery, the ratio for men started to trend up almost immediately. The ratio for women continued to trend down until 2012 and did not begin to rebound until late 2013. From February-April 2020, both the employment-population ratios for men and women drastically dropped by about 10%. By April 2023, both ratios had not reached the pre-pandemic levels and were at 60.4% and 56.8%, respectively. All the above
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