Assuming the marginal propensity to consume (MPC) value is 0.95, calculate the economic multiplier and total economic impact of an infrastructure investment of $15 million on the state economy of New York. Note, you are to use the economic multiplier equation of 1/1-MPC.
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Assuming the marginal propensity to consume (MPC) value is 0.95, calculate the economic multiplier a...
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