Mathematics, 19.04.2020 22:25 hany90

As an elected official, you have been informed that real GDP is below its potential and that action should be taken to encourage
economic growth and bring the economy to its long-run equilibrium. The marginal propensity to consume is 0.7, and the amount of new
government spending is $600 billion.
What is the multiplier? Compute this to the first place beyond the decimal.

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As an elected official, you have been informed that real GDP is below its potential and that action...