In 2006, the Indian government enacted the Mahatma Gandhi National Background Information - India Rural Employment Guarantee Act. This Act ensures that every Source - Reserve Bank of India, various news outlets household in the relevant areas has 100 days of paid employment during economic downturns, without additional decision-making April 8, 2022 Currency 30.77 trillion INR required by the government. This Act is an example of _ -, and we April 8, 2022 Demand (Transaction) Deposits 21.66 trillion INR should expect aggregate demand to in response to the Act April 8, 2022 Savings (Non-Demand or Non-Transaction) 155.16 trillion INR during recessions Deposits Discretionary policymaking; rise 2021 Real GDP 147,540 billion INR 2020 Real GDP 135,130 billion INR Discretionary policymaking; fall 2021 Population 1.39 billion people An automatic stabilizer; rise 2020 Population 1.38 billion people . An automatic stabilizer; fall Marginal Propensity to Consume 0.63 2021 Q4 Exports 12.88 trillion INR 2021 Q4 Imports 15.26 trillion INR The Indian government has indicated that it would like to reduce (The currency of India is the Indian Rupee, abbreviated INR, and symbolized government debt over the next few years. Doing so will require as 7.) , which will likely lead to pressure on aggregate demand. Expansionary fiscal policy; upward . Expansionary fiscal policy; downward . Contractionary fiscal policy; upward . Contractionary fiscal policy; downward . Expansionary monetary policy; upward . Expansionary monetary policy; downward . Contractionary monetary policy; upward . Contractionary monetary policy; downward If India wanted to increase short-run GDP using fiscal policy, it could . Reduce some of the transfer payments that were implemented as a result of COVID-19. Decrease the income tax rate. . Increase interest rates. . Increase the purchase of government securities (government debt). What is India's simple tax multiplier? Enter a positive value. If India currently has a recessionary output gap of 10.77 trillion INR, by how much would government spending have to change to close the gap, all else equal? Enter a positive value if government spending must increase and a negative value if government spending must decrease