Which of the following best describes the concept of the multiplier in Keynesian economics?
1
It measures the change in aggregate supply due to a change in investment.
2
It indicates the number of times the money supply must increase to achieve full employment.
3
It represents the total change in national income resulting from an initial change in autonomous spending.
4
It analyzes the impact of interest rate changes on the balance of payments.
5
It examines the relationship between the budget deficit and national debt.