2 National income and product data are generally revised. What effects would the following revisions have on

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2 National income and product data are generally revised. What effects would the following revisions have on con- sumption, investment, government purchases, net exports, and GDP?

a. It is discovered that consumers bought $6 billion more furniture than previously thought. This furni- ture was manufactured in North Carolina.

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

c. It is discovered that businesses bought $6 billion more furniture than previously thought. This furni- ture was manufactured in North Carolina.

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

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Macroeconomics

ISBN: 126148

6th Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore

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