2. A stimulus payment that returns a certain amount of money to taxpayers can have a total effect on the economy that is much greater than the monetary value of the individual payment. In economics, this is called the multiplier effect. Suppose, for example that the government provides a stimulus so that each consumer has $2000 more income. The government assumes that each person will spend 70% of this (=$1400). The individuals and businesses receiving this $1400 in turn spend 70% of it (=$980) on supplies and wages, creating extra income for other people to spend, and so on. Express this cumulative economic impact from the stimulus as a geometric series and determine the total amount spent on consumer goods from the initial $2000 tax rebate