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If an economy’s spending multiplier is equal to 4, what is its MPC and MPS?
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- what is MPC, MPS and spending multiplier?In an economy the value of MPS is given as 0.72 Calculate the value of multiplierI'm doing economics homework and I'm being asked to find the multiplier when the MPS is 0.12 and MPC is 0.88. I'm trying to follow the formula and not sure where I'm getting lost.