The National Restaurant Association states that the restaurant industry has an economic effect of more than $1.7 trillion annually in the United States,with every dollar spent in restaurants generating an estimated total of $2.05 in spending in the economy.This indicates that the spending multiplier for the restaurant industry is equal to
A) 1.21.
B) 1.70.
C) 2.05.
D) 4.25.
Correct Answer:
Verified
Q232: If an increase in investment spending of
Q233: The passage of the _ in 1930
Q234: All of the following are true statements
Q235: Autonomous expenditure is a type of expenditure
Q236: All of the following are true statements
Q238: _ consumption is consumption that does not
Q239: John Maynard Keynes argued that if many
Q240: Which of the following is a true
Q241: Table 12-12 Q242: If the multiplier is 10,the marginal propensity
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents