1.5.1 Explain the effect that each of the following situations will have on the size of the multiplier:

a. An increase in personal income tax across all income brackets

b. An expansionary monetary policy that is inflationary in nature

c. Firms have excess inventories built up as the economy begins to recover from a recession

d. Firms draw upon existing excess labor employed instead of hiring more people to expand its output

e. An expansionary fiscal policy that is not matched by an increase in taxes.

f. An economy wide increase in wages that is expected to happen due to a new wage law that is expected to be permanent in nature rather than temporary.