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

Multiple Choice

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) the standard of living did not change in Uruguay between 2000 and 2008.
B) Uruguay entered a recession in 2001.
C) potential GDP decreased in 2001.
D) Uruguay's economy reached a peak in 2005.