The following data show Uruguay's GDP using purchasing power parity in billions of dollars. Year 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP($) 26.1 25.8 23.3 24.3 27.9 30.1 33.9 37.2 40.2
Using the data, we can conclude that
A) Uruguay's economy entered a recession in 2005.
B) Uruguay's standard of living increased steadily between 2000 and 2008.
C) potential GDP more than doubled between 2000 and 2008.
D) Uruguay's economy reached a trough in 2002.

Question

Quizplus · Accepted Answer

The data shows a decrease in GDP from 2001 to 2002, followed by a consistent increase from 2002 onwards, indicating that 2002 was the lowest point (trough) in this period.

The Following Data Show Uruguay's GDP Using Purchasing Power Parity