EXERCISE 1?.6 THE CRISIS AND THE MULTIPLIER 1. Show the features of the 2008 crisis in the multiplier diagram, using Figure 14.6 for the Great Depression as a model. Use the concepts of the consumption function, a house price bubble, the nancial accelerator. and positive feedback in your answer. 2. How can you represent the role played by the higher marginal propensity to consume of households in the bottom quintile in your analysis? Refer to Figure 1?.20 and assume the economy is closed