Multiplier can be described as

JAMB Economics 2023 64 views

Multiplier can be described as

  1. the ratio of change in an endogenous variable to the change spending
  2. the ratio of change in output to a change in autonomous spending ✓
  3. the ratio of variables that multiplies autonomous spending plus tax
  4. the ratio of variables that multiplies autonomous spending

Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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