File Edit View History Bookmarks Profiles Tab Window Help M Question 8 - Ch 12 Assignme X G 2025 nfl playoffs - Google Se X Percen Grades for Debi Sordillia: Fun X G 2% ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252 Ch 12 Assignment i Saved 8 NEWS WIRE: FISCAL RESTRAINT Retailers Bracing for Spending Slowdown Retailers across the country are bracing for an anticipated slowdown 9.09 in consumer spending. As of January 1, the Social Security payroll points tax rate moved back up from 4.2 percent to 6.2 percent. That will reduce take-home pay by about 2 percent. That means that the 153 Skipped million workers in this country will have an average of $1,500 less to spend this year. For retailers, that implies less spending on groceries, household goods, and dining out. According to an estimate by Citigroup, the jump in the payroll tax will leave $110 hillion eBook less in consumers' pockets. That has retailers worried. Print Source: News accounts of January 2013. References If the MPC was 0.75, and using the Citigroup estimate, Instructions: Round your responses to one decimal place. a. how much did consumer spending decline initially in response to the 2013 payroll tax hike? $ billion b. what was the ultimate decline in aggregate demand after all multiplier effects? $ billion Mc Graw Hill BAY 473 4 APR 19 tv MacBook Pro