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An event such as an international hockey tournament can have a tremendous knock-on effect on the economy of the host cit
Posted: Sat Feb 26, 2022 10:54 am
by answerhappygod
- An Event Such As An International Hockey Tournament Can Have A Tremendous Knock On Effect On The Economy Of The Host Cit 1 (63.35 KiB) Viewed 30 times
An event such as an international hockey tournament can have a tremendous knock-on effect on the economy of the host city through what economists call the multiplier effect. do Suppose that 30000 people visit a city to attend a hockey tournament and each spends 700€ there. Suppose that 80% of this money is spent again in the city, that 80% of that money is spent again in the city, and so on. Thus, the total effect of the tournament on the city's economy is an infinite series, and the series sums to: million euros Check