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Description of the economic concept

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Suppose the Federal government offers a local school district a $10 million grant to hire new teachers. The district was already planning to spend $8 million on new teachers before receiving the grant. After receiving the grant the district decides to spend $13 million on hiring new teachers. Why didn't they increase their spending by the full $10 million? Name and provide a description of the economic concept being described here. What is its size?

 

 

Reference no: EM132950492

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