Question

State whether the following statement is true or false, and explain why. If the statement is false, state the true change. If the national economy shrank at an annual rate of 20% per year for three consecutive years, then the economy shrank by 60% over the three-year period.

Answer 1

Answer:

It's true.

Explanation:

Because every year 20%  is added so after 3 years it's 60%

this is because the percentage changes a certain amount every months which increases the amount of money it's worth or how much the price goes down.