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True or False Since NGDP of 2019 is lower than NGDP of 2018: (T/F) The economy didn't grow during 2018-2019 Since NGDP of 2020 is

True or False

Since NGDP of 2019 is lower than NGDP of 2018:

(T/F) The economy didn't grow during 2018-2019

Since NGDP of 2020 is greater than NGDP of 2018, one can conclude that:

(T/F) In 2020, the economy produced more output than 2018

(T/F) In 2020, the living standard has been improved compared to 2018

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