Help with questions: Data reference: https://docs.google.com/document/d/1KYwCt7Wo9KoEYrNQcrxrXlFiUjgkZYfUrY59yUyqtZM/edit

What is the tax multiplier in this economy? What is the government spending multiplier in this economy? How much is the output gap? What is the amount of government spending change needed to close the gap? What is the amount of tax change needed to close the gap? If the Federal Reserve wanted to use monetary policy to close this gap, should they use expansionary monetary policy or contractionary scal policy? Does what you wrote for #6 mean they should buy bonds or sell bonds? What effect will this have on the interest rate? Will that change AD or SRAS? Explain (that is, give the chain of events that will occur based on what you wrote for #7)