Calculate the multiplier in the economy

Reference no: EM133614123

Problem: A simple Keynesian economy is described by the following set of equations: Consumption = 600 0.70Y Investment = 400 0.20Y Goverment Spending = 900 Exports =200 Imports = 100 0.10Y Calculate the multiplier in this economy. Explain the meaning of the multiplier effect.

Reference no: EM133614123

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