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 11% per year for three consecutive years, then the economy shrank by 33% over the three-year period. Choose the correct answer below and. if necessary, fill in the answer box to complete your choice. The statement is false because each year there is a different reference value. The economy actually shrank by % over the three-year period. (Type an integer or decimal rounded to the nearest tenth as needed.) The statement is true because 3 Times 11% is 33%