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The investment expenditure of an economy changes by N2 million and MPC is 0.75 The...

Economics
JAMB 2012

The investment expenditure of an economy changes by N2 million and MPC is 0.75
The multiplier is

  • A. 8
  • B. 4
  • C. 3
  • D. 2
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Correct Answer: Option B
Explanation

The Multiplier is calculated as ( 1 divided by 1 minus the MPC. That is; 

Multiplier = 1 ÷ (1 - 0.75) = 0.25

1 ÷ 0.25  = 4

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