Assume that the economy is growing steadily and hasnt had a recent recession. A new administration increases
Question:
Assume that the economy is growing steadily and hasn’t had a recent recession. A new administration increases spending on the military by $200 billion, a significant amount.
a. What is your estimate of the multiplier in this situation and what do you predict will be the impact on GDP?
b. How would your answer change if the economy were in recession?
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a Since the economy is at or near full employment the increased military spending is ...View the full answer
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