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A simple Keynesian economy is described by the following set of equations: Consumption = 600 + 0.70Y Investment = 400 + 0.20Y Goverment Spending =

A simple Keynesian economy is described by the following set of equations: Consumption = 600 + 0.70Y Investment = 400 + 0.20Y Goverment Spending = 900 Exports =200 Imports = 100 + 0.10Y Questions 1 Calculate the multiplier in this economy. Explain the meaning of the multiplier effect

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