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multiplier
In economics, the theoretical concept, formulated by John Maynard Keynes, of the effect on national income or employment by an adjustment in overall demand. For example, investment by a company in a new plant will stimulate new income and expenditure, which will in turn generate new investment, and so on, so that the actual increase in national income may be several times greater than the original investment.
From the Hutchinson Encyclopedia of World History. © Research Machines plc [2006] All Rights Reserved, Helicon Publishing is a division of Research Machines.
1776: United States declares independence
After a decade of economic conflict with Great Britain, the 13 colonies answer King George III's... More >
After a decade of economic conflict with Great Britain, the 13 colonies answer King George III's... More >
Ancient Chinese Sports
Catapulting viewers into a sporting world that few knew existed, a world that thrived centuries... More >
Sat 4 Jul 9.00pm |
The Plague (Part 2 of 2)
In 1437, the worst biological disaster in history swept... More >
Sat 4 Jul 10.00pm |