Why the national income and product data are revised

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

a) It is discovered that consumers bought $6 billion more furniturethan previously thought. This furniture was manufactured in NorthCarolina.

b) It t is discovered that consumers bought $6 billion morefurniture than previously thought. This furniture was manufacturedin Sweden.

Reference no: EM13243541

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