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3 years ago

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If every $1,000 increase in the real price of homes adds 2 cents to annual consumer spending (the "wealth effect"), by how much

did consumption decline when home prices fell by $2 trillion in 2006–2008?

1 answer:

Vlad1618 [11]3 years ago

5 0

Answer:

Explanation:

If consumer spending goes up $.02 per 1000, that is .0002%

So 2 trillion X .0002% = $40,000,000

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