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Answer to Question #51247 in Macroeconomics for haruna

Question #51247
The Nottinghamshire Research Observatory in England calculated that students who attend Nottingham Technical University spend about £2,760 each in the local economy for a total of £50.45 million. In total, the impact of their spending on the local economy is £63 million. Calculate the size of the student spending multiplier.
Expert's answer
If the Nottinghamshire Research Observatory in England calculated that students who attend Nottingham Technical University spend about £2,760 each in the local economy for a total of £50.45 million, and if in total, the impact of their spending on the local economy is £63 million, the size of the student spending multiplier is m = 63/50.45 = 1.25.

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