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Fill in the blanks in the following statements to interpret the idea behind government purchases multiplier being equal to 2 (hint: consider both expansionary and

Fill in the blanks in the following statements to interpret the idea behind government purchases multiplier being equal to 2 (hint: consider both expansionary and contractionary fiscal policy causes). Answer: Expansionary: $1__inwillreal GDP by_.

Contractionary: $1in__will_real GDP by___________________.

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