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Chapter 28: Aggregate expenditure model, Multiplier = Δequilibrium…
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Multiplier = Δequilibrium expenditure ÷ Δautonomous expenditure
Multiplier = 1 ÷ (1-MPC) OR Multiplier = 1÷MPS
Multiplier = ΔRGDP ÷ Δagg. expenditure (change in income÷change in spending)
ΔRGDP = Δinduced expenditure + Δautonomous expenditure