Question: 1.Write down whether the following statements are true or false and give a brief reasons for each. a.A product has improved in quality from one

1.Write down whether the following statements are true or false and give a brief reasons for each.

a.A product has improved in quality from one year to the next year and its price has also increased to reflect this improvement. In this case Real GDP and GDP deflator both will increase.

b.If a Pakistani firm decides to build a plant in Japan rather than in Pakistan. GNP of Pakistan will exceed GDP.

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