3. Suppose a municipality is considering the economic impact of a new sports stadium. Suppose the marginal propensity to consume in the municipality is 0.875. a. What is the value of the simple expenditures multiplier? b. If a new stadium that adds $200 million in new consumption expenditures is built, what is the impact on the economy based on this multiplier? c. Suppose a sports economist does some research that shows that, due to 'leakages', only about 60% of expenditures actually increases local incomes. What is the value of the modified multiplier? What would be the impact of the $200 million expenditure using this modified multiplier? (Recall, the modified multiplier was suggested by Noll and Zimbalist (1997), see the ECN 345 9 lecture slides on Canvas).