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National Income and product data are revised. What effects would the following revisions have on consumption, investment, and GDP of US?

a. It is discovered that consumers bought $6 billion more furniture than previously thought. This furniture was manufactured in US.

b. It is discovered that consumers bought $6 billion more furniture than previously thought. This furniture was manufactured in Canada.

c. It is discovered that businesses bought $6 billion more furniture than previously thought. This furniture was manufactured in US.

d. It is discovered that businesses bought $6 billion more furniture than previously thought. This furniture was manufactured in Canada.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M945703

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