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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

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BuyFindarrow_forward

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
Chapter 21, Problem 3QR
Textbook Problem
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The government spends $3 billion to buy police cars. Explain why aggregate demand might increase by more or less than $3 billion.

To determine
Multiplier and crowding out effect on aggregate demand.

Explanation of Solution

If the government spends $3 billion to buy police cars, then the aggregate demand might increase either by more than...

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