Reference no: EM131766874

Generally, does the basic Keynesian formula multiplier (regardless of the model) tend to overstate, understate, or depict accurately the impact of fiscal stimulus packages relative to income (and thus employment)? Why? [Start by first designating whether overstate, understate, or.......and then explain why it does what you choose]

Henry Hazlitt - Economics in One Lesson: "The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups." Evaluate and explain! Any current relevance/application you can think ofjQuery20006201013467783956_1513111244731??