Question: 2. For each statement in this section, say whether the statement is True, False, or Uncertain. Then explain each answer in 2-3 sentences. For example,

2. For each statement in this section, say whether the statement is True, False, or Uncertain. Then explain each answer in 2-3 sentences. For example, if a statement is True, explain why it is True. If a statement is False, identify the part or parts of the statement that are False and explain why they are False. If a statement is Uncertain, why it could be True and why it could also be False.

c. "According to economic theory, recessions will last longer than expansions."

d. "The total national income of the U.S. is actually much higher than indicated by GDP."

e. "GDP measured by the expenditure approach will be higher than GDP measured by the income approach."

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