Question 16 If full employment GDP (Qf) is $360 billion and equilibrium GDP is $310 billion, this economy is experiencing Not yet answered Select one: Marked out of O a. an inflationary gap of $50 billion. 1.00 O b. a recessionary gap of $50 billion. P Flag question O c. a recessionary gap of $360 billion. O d. an inflationary gap of $360 billion. Question 17 When an economy is experiencing an recessionary gap, government expenditures must Not yet answered Select one: Marked out of O a. decrease. 1.0 O b. increase. P Flag question O c. stay the same. O d. cannot be determined by the information given. Question 18 If an economy is experiencing an contractionary gap of 310 billion and the expenditure multiplier is 2.5, calculate how much government expendiutes need to change to close Not yet the gap. answered Marked out of Select one: 1.00 O a. decrease by $124 billion. P Flag O b. increase by $124 billion. question O c. increase by $310 billion. O d. decrease by $310 billion