What Is the Difference Between the Multiplier in a Closed

question 45

Essay

What is the difference between the multiplier in a closed private economy and the multiplier in a mixed open economy?

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Definitions:

Metaphorical

Pertaining to or characterized by the use of a figure of speech in which a term or phrase is applied to something to which it is not literally applicable in order to suggest a resemblance.

Connotative

Pertaining to the implied or emotional meaning of a word, in contrast to its literal meaning.

Denotative

Relating to the explicit or direct meaning of a word or term, as opposed to its connotative (implied or associated) meanings.

Contextual

pertains to being related to or dependent on the context or surrounding circumstances that can influence interpretation, meaning, or behavior.