Suppose that the government cuts taxes in response to a recessionary gap, but because of legislative delays the tax cut is not put in place for 18 months. How will the economy self-correct given the delay in the tax cut? multiple choice 1 SRAS will shift down eliminating the recessionary gap. LRAS will shift left eliminating the recessionary gap. LRAS will shift right eliminating the recessionary gap. SRAS will shift up eliminating the recessionary gap. Once the tax cut is implemented, how will this affect the economy? multiple choice 2 AD will shift inward AD will shift outward LRAS will shift right LRAS will shift left