Someone help me Measuring the GDP Gap

According to the "rule of thumb" definition, a recession begins when we experience two consecutive quarters (six months) of decreasing RGDP. What defines a recovery? 1. The unemployment rate falls below the natural rate of unemployment 2. The economy experiences two consecutive quarters of increasing RGDP 3. The level of RGDP surpasses the pre-recession peak 4. The GDP gap becomes zero The attached graphs provide information needed to estimate the point at which the economy reached each of the points listed above. The construction is very straightforward Tasks: 1. Determine approximately the number of months following the trough of the Great Recession, before the economy reached each milestone listed above. 2. Consider the four alternatives. Which do you think best represents an economy that has recovered from a recession? 3. Write a substantial paragraph of 5 to 10 sentences to support your position to your answer of task #2. 1. Save the paragraph as a Word document 2. Use appropriate grammar, punctuation and spelling 3. Include a table showing the months to each milestone (See example below.) Your paragraph will be evaluated based on 1. Estimates of the time to reach each milestone (4 points) 2. Logic used to support your position. You will not receive points for this step if you argue for all four. You must take a position. (4 points) 3. Compliance with the requirements listed in task number 3 above (2 points) There is NOT a single correct answer to this question. Your paragraph will be evaluated based on the argument that you make to support your position. Submit using the Assignment tool by clicking on the title of the assignment. What defines a recovery? Number of months Unemployment rate falls below natural 2 quarters of growth # # Real GDP surpasses previous peek GDP gap zero # #FRED ~ - Real Gross Domestic Product - Real Potential Gross Domestic Product 20,000 19,000 18,000 Billions of Chained 2012 Dollars 17,000 16,000 15,000 14,000 2006 2008 2010 2012 2014 2016 2018 Shaded areas indicate U.S. recessions.* Sources: BEA, CBO myf.red/g/s5iEFRED ~- Unemployment Rate - Natural Rate of Unemployment (Long-Term) 11 10 CO Percent 6 5 4 W 2006 2008 2010 2012 2014 2016 2018 Shaded areas indicate U.S. recessions.* Sources: BLS, CBO myf.red/g/s519Format Painter Clipboard Font Alignment F15 v : X fx C D E F G A 8 FRED Graph Observations Federal Reserve Economic Data Link: https:/fred.stlouisfed. org Help: https://fredhelp. stlouisfed.org Economic Research Division Federal Reserve Bank of St. Louis Unemployment Rate, Percent, Quarterly, Seasonally Adjusted Natural Rate of Unemployment (Short-Term) (DISCONTINUED), Percent, Quarterly, Not Seasonally Adjusted 10 Frequency: Quarterly 11 Natural Rate of Unemployment Year Quarter Unemployment Rate (% ) 12 (%) 13 2006 4.7 5.0 14 2006 4.6 5.0 15 2006 4.6 5.0 16 2006 4.4 5.0 17 2007 4.5 4.9 18 2007 4.5 49 19 2007 4.7 4.9 20 2007 4.8 4.9 21 2008 5.0 4.9 22 2008 5.3 5.0 23 2008 6.0 5.0 24 2008 6.9 5.1 25 2009 8.3 5.2 26 2009 9.3 6.3 27 2009 9.6 5.4 28 2009 9.9 5.5 29 2010 9.8 5.6 30 2010 9.6 5.7 31 2010 5.7 32 2010 9.5 5.8 33 2011 9.0 5.8 34 2011 9.1 5.8 35 2011 9.0 5.8 36 2011 B.6 5.8 37 2012 8.3 5.8 38 2012 8.2 5.8 39 2012 8.0 5.7 40 2012 7.8 5.7 41 2013 7.7 5.5 42 2013 2 7.5 5.4 FRED Graph +