Assume that in 2020, real GDP for Canada was at $1,500, but our full employment level of output was at $3,750. Also assume that for each $1 additional income a Canadian receives, he or she spends about $.85. Based on this information, would the economy be experiencing an inflationary or a recessionary gap? Answer this question by placing either INFLATIONARY or RECESSIONARY in the blank. No other words are required. How large is the previously mentioned Gap? Do NOT use dollar sign. Round answer to 2 decimal places. Calculate the value of multiplier (simple, closed economy multiplier) for Canada. Round your answer to 2 decimal places According to the previous information, to close the gap, spending would need to INCREASE or DECREASE (choose one and put your answer in the first blank below) by how many dollars? (Put your answer in the second blank below. Do NOT use a dollar sign. Round your answers to 2 decimal places.)