In 2021, the Canadian Department of Finance estimated the marginal propensity to consume of Canadian consumers to be 0.6. Later that year, the federal government announced a $22 billion investment programme into nationwide high-speed rail infrastructure.
Using the information above, calculate the total increase in national income resulting from the $22 billion investment.
43 exam-style questions on Edexcel A A Level Economics 2.4.4 The multiplier. Each one has a worked solution and a mark scheme showing where the marks go.