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

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 choose the answer you think is best from below

(A) The statement is true because311%=33%

(B)The statement is false because each year there is a different reference value.

What percentage did the economy shrink by?

____________ % (round to a tenth of a percent)

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