Question
Q. 8. National income and product data are generally revised. What effects would the following revisions have on consumption, investment, government purchases, net exports, and
Q. 8. National income and product data are generally revised. What effects would the following revisions have on consumption, investment, government purchases, net exports, and GDP? (Consider Pakistan the domestic country) a. It is discovered that consumers bought Rs. 6 billion more furniture than previously thought. This furniture was manufactured during the current year in Lahore. b. It is discovered that consumers bought Rs. 6 billion more furniture than previously thought. This furniture was manufactured during the current year in Sweden. c. It is discovered that businesses bought Rs. 6 billion more furniture than previously thought. This furniture was manufactured during the current year in Khairpur. d. It is discovered that businesses bought Rs. 6 billion more furniture than previously thought. This furniture was manufactured during the current year in China.
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