Question 33 8 pts The expenditure multiplier is used to estimate the size of policy. Thus, knowing the expenditure multiplier and the size of the recessionary gap leads policy makes to choose a policy. 1 (2 points) Suppose the marginal propensity to consume (mp) is 0.75, what is the numerical value expenditure multiplier 212 points) Suppose potential GDP is 15 trilion but actual GOP is 11 trillion, what is the numerical value of the recessionary Gap? 3 12 points) Using the answers from prior parts of this question what is the numerical value of a spending policy that will close the recessionary Gap? 4 12 points) is the recessionary Gap farger or smaller dollar value than the policy used to close the gap? Edit View Insert Format Tools Table 12ot Paragraph BIU 2 TU