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Can someone explain why this is the correct answer??   Assuming GDP falls by 6 percent in 2020, rises by 3 percent in 2021, and rises by another 3 percent in 2022. By the end of 2022 the US will be below the level observed at the end of 2019 at the level observed at the end of 2019 above the level observed at the end of 2019

Can someone explain why this is the correct answer??   Assuming GDP falls by 6 percent in 2020, rises by 3 percent in 2021, and rises by another 3 percent in 2022. By the end of 2022 the US will be below the level observed at the end of 2019 at the level observed at the end of 2019 above the level observed at the end of 2019

Macroeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 2CQ
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Assuming GDP falls by 6 percent in 2020, rises by 3 percent in 2021, and rises by another 3 percent in 2022. By the end of 2022 the US will be below the level observed at the end of 2019 at the level observed at the end of 2019 above the level observed at the end of 2019

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Correct! Assuming GDP falls by 6 percent in 2020, rises by 3 percent in 2021, and rises by another 3 percent in 2022. By the end of 2022 the US will be below the level observed at the end of 2019 at the level observed at the end of 2019 above the level observed at the end of 2019
Transcribed Image Text:Correct! Assuming GDP falls by 6 percent in 2020, rises by 3 percent in 2021, and rises by another 3 percent in 2022. By the end of 2022 the US will be below the level observed at the end of 2019 at the level observed at the end of 2019 above the level observed at the end of 2019
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