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10 cards from this deck
Production & consumption + use of productive resources
Ratio: change in national income ÷ initial spending change
Fraction of extra income spent on domestic consumption
Fraction of extra income saved rather than spent
Always equals 1
k=11−MPCk = \frac{1}{1 - \text{MPC}}k=1−MPC1
Large multiplier (more respending, less leakage)
Government spending & tax multipliers
Always negative (withdrawals from circular flow)
Real is smaller (part of effect becomes inflation)
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