a. (10 points) Assess the BEDO's statement, drawing on the urban economic concepts discussed in class. Who was likely to benefit from this increased economic activity? Was there anyone who may have suffered as a result? (Provide at least two examples for each case). Please be as specific as possible and explain your answer. The accuracy of the BEDO statement depends mainly on whether a large museum is primarily an export or a local good. If the money spent by visitors is all net new spending, then the BEDO is correct since the spending is a result of added economic activity in the area that otherwise wouldn't have been spent. In addition, the 168m million total is likely to be based on a multiplier effect. Your answer should recognize that some multiplier is assumed here and whether you think that multiplier is accurate or potentially overstated. A multiplier could be overstated if some of that money were spent on substitute or alternate goods in the local economy or if the net new spending is subsequently spent in other economies. For example, many museum visitors could be residents from Bilbao or nearby towns that often come to Bilbao for the weekend