Generally, does the basic Keynesian formula multiplier (regardless of the model) tend to overstate, understate, or depict accurately the impact of fiscal stimulus packages relative to income (and thus employment)? Why? [Start by first designating whether overstate, understate, or.......and then explain why it does what you choose]

Henry Hazlitt - Economics in One Lesson: "The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups." Evaluate and explain! Any current relevance/application you can think ofjQuery20006201013467783956_1513111244731??