The government, through a subsidy program, distributes $ 13,000,000. If each person or agency spends 65 % of what is received, and 65% of this is spent, and so on, how much total increase in spending results from this government action? (Let a1=8,450,000) The total increase in spending will be approximately $______

The government, through a subsidy program, distributes $ 13,000,000. If each person or agency spends 65 % of what is received, and 65% of this is spent, and so on, how much total increase in spending results from this government action? (Let a1=8,450,000) The total increase in spending will be approximately $______

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 2E

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