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) 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.