Due to reduced taxes, a person has an extra $1,200 in spendable income. If we assume that
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Due to reduced taxes, a person has an extra $1,200 in spendable income. If we assume that the person spends 65% of this on consumer goods, and the producers of these goods in turn spend 65% on consumer goods, and that this process continues indefinitely, what is the total amount spent (to the nearest dollar) on consumer goods?
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Related Book For 
College Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780321945518
13th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen
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