(Solved): 2. Multiplier effect-(A) Fully illustrate how the multiplier effect is suppos ...

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2. Multiplier effect-(A) Fully illustrate how the multiplier effect is supposed to work, using at least 3 levels of activity, (B) explain this carefully in full sentences, and (C) show the total potential change in national income as a result of the government's \( \$ 4 \) billion change in the budget. (You may use \( \$ 4,000 \) for your illustration.) A. Table illustration of multiplier effect: B. Fully explain in sentences: 1 C. Total potential change in national income 9