Counting Recessions. Consider the data for the fictitious economy of Euronet:
Year and quarter 2003:1 2003:2 2003:3 2003:4 2004:1 2004:2 2004:3
Real GDP 195 193 195 196 195 194 196
How many recessions occurred in the economy over the time indicated? _____ recession(s) (Enter your response as an integer.)