G ezto.mheducation.com + 189 https://lor2.gadoe.org/gadoe/file/38311d95-4e4e-459e-9256-38098d6323fe/. M Question 10 - Homework: Aggregate Supply and Demand; Fiscal Policy Assign. M Fiscal Stimulus Homework: Aggregate Supply and Demand; Fiscal Poli... i Saved Help Save & Exit Submit Check my work 10 Refer to the News Wire to answer two questions. 2 points NEWS WIRE FISCAL RESTRAINT Retailers Bracing for Spending Slowdown Retailers across the country are bracing for an anticipated slowdown in consumer spending. As of January 1, the Social Security payroll tax rate moved back up from 4.2 to 6.2 percent. That will reduce take-home pay eBook by about 2 percent. That means that the 153 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 billion less in consumers' pockets. That has retailers worried. Print Source: News accounts of January 2013. If the MPC was 0.90, and using the Citigroup estimate, References a. how much did consumer spending decline initially in response to the 2013 billion payroll tax hike? b. what was the ultimate decline in aggregate demand after all multiplier effects? billion Mc Graw Hill