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Now, with this rise in price level to P1, aggregate expenditure curve in the upper panel (a) will not remain unaffected but will shift downward. In the panel at the bottom of Fig. 10.3 the corresponding aggregate demand curve AD0 and the short-run aggregate supply curve SAS intersect at B’ at the above determined GNP level K0. The multiplier effect in case of upward sloping curve is shown in Fig. 10.3. To begin with, in the top panel of Fig. 10.3 aggregate expenditure curve AE0 intersects 45° line at point Sand determines Y0 equilibrium level of GNP. We, therefore, see that the size of multiplier instead of being equal to 4, as it would have been in the case of a closed economy, is equal to 2 in the open economy with - as the marginal propensity to import. In that case as a result of some initial increase in investment, income would go on rising indefinitely.

We have seen above that as a result of increase in investment, the level of income increases by a multiple of it. As a result, aggregate expenditure curve AE shifts upward to AE1 and determines new equilibrium GNP level equal to Y2. This fall in aggregate expenditure curve is due to the adverse effects on wealth or real balances, interest rate and net exports. The real online service started with Xbox Live for the Microsoft Xbox system and it started with a huge bang. They are less expensive compared to computers, they do not require a lot of technical knowledge to operate them and install games, there is no need of an operation system (which costs money), there are no drivers to install and update. Enterprise applications need to scale sooner or later. The game uses intimacy, scale and connection in engaging ways that bring you closer to the world and characters around you.

We explain below the various leakages that occur in the income stream and reduce the size of multiplier in the real world. But besides saving, there are other leakages in the process of income generation which reduce the size of the multiplier. If these leakages are plugged, the effect of change in investment on income and employment would be greater. This is because a part of expansionary effect of GNP of the increase in autonomous government expenditure is offset by rise in the price level. However, if the money raised through taxation is spent by the Government, the leakage through taxation will be offset by the increase in Government expenditure. As we have seen, people keep part of their income for satisfying their precautionary and speculative motives, money kept for such purposes is not consumed and therefore does not appear in the successive rounds of consumption expenditure and therefore reduces the increments in total income and output.

Secondly, the rise in price level reduces the supply of real money balances (Ms/P) that causes a shift in money supply curve to the left. This reduces the size of the multiplier. Therefore, the increase in income as a result of some increase in investment will be less than warranted by the size of the multiplier measured by the given marginal propensity to consume. Therefore, when valorant aimbot and demand increase as a result of increase in investment, it generally raises the prices of these goods rather than their output and therefore weakens the working of the multiplier in real terms. When output of consumer goods cannot be easily increased, a part of the increases in the money income and aggregate demand raises prices of the goods rather than their output. The incomes used for paying back the debts do not get spent on consumer goods and services and therefore leak away from the income stream. If it is an open economy as is usually the case, then a part of increment in income will also be spent on the imports of consumer goods.