Given the marginal propensity to consume (MPC), the miltiplier is given by
Multiplier = 1 / (1 - MPC)
Given that the marginal propensity to consume is 0.8, the multiplier is given by
Multiplier = 1 / (1 - 0.8) = 1 / 0.2 = 5
Answer:
Part a)
Steve's expression is
For x=3, the expression is equal to 
Part b)
Jasmine's expression is

For x=2, the expression is equal to 
Step-by-step explanation:
Part a)
Let
n-----> the first term
The expression is


substitute
Steve's expression is

Evaluate for x=3

Part b)
Let
n-----> the first term
Jasmine's expression is

Evaluate for x=2

Answer:
15
Step-by-step explanation:
500-60=440
440/30=14.66666667
simplify 14.66666667= 15