If the MPC was 0.90, (a) How much did consumer spending decline initially in response to the
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If the MPC was 0.90,
(a) How much did consumer spending decline initially in response to the 2013 expiration of the payroll tax cut (essentially, a tax hike to consumers)? (News Wire "Fiscal Restraint")?
(b) What was the ultimate decline in aggregate demand after all multiplier effects?
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a 99 billion b 990 billion Explanation Recall Multip...View the full answer
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