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Question
The mathematical formulation for multiplier used by Keynes was developed by ___________.
The mathematical formulation for multiplier used by Keynes was developed by ___________.
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Solution
The correct option is C Richard Kahn
Richard Kahn was a British economist whose most notable contribution towards economics was his principle of multiplier where he describes multiplier as the ratio between change in income and change in
investment and
it was denoted as 'k'.k = ΔY/ ΔI where Y is the income and I is the investment expenditure in the economy.
Richard Kahn was a British economist whose most notable contribution towards economics was his principle of multiplier where he describes multiplier as the ratio between change in income and change in investment and it was denoted as 'k'.
k = ΔY/ ΔI where Y is the income and I is the investment expenditure in the economy.
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