State whether the following statement is true or false, and explain why. If the statement is false, state the true change. If the national economy shrank at an annual rate of 20% per year for three consecutive years, then the economy shrank by 60% over the three-year period.

You have just been hired as a brand manager at kelsey-white, an american multinational consumer goods company. recently the firm invested in the development of k-w vision, a series of systems and processes that allow the use of up-to-date data and advanced analytics to drive informed decision making about k-w brands. it is 2018. the system is populated with 3 years of historical data. as brand manager for k-w’s blue laundry detergent, you are tasked to lead the brand's turnaround. use the vision platform to to develop your strategy and grow blue’s market share over the next 4 years.