Time left 1:03:40 Question 16 If full employment GDP (Qf) is $450 billion and equilibrium GDP is $560 billion, this economy is experiencing Not yet answered Select one: Marked out of O a. an inflationary gap of $110 billion. 1.00 O b. a recessionary gap of $110 billion. Flag question O c. a recessionary gap of $450 billion. O d. an inflationary gap of $450 billion. Question 17 To eliminate an recessionary gap, government expenditures must Not yet answered Select one: Marked out of O a. decrease. 1.00 O b. increase. Flag question O c. stay the same. O d. Cannot be determined by the information given. Question 18 If an economy is experiencing an inflationary gap of $330 billion and the expenditure multiplier is 3, calculate how much government expenditures need to Not yet change to close the gap. answered Select one: Marked out of 1.00 O a. increase by $110 billion. Flag O b. decrease by $110 billion. question O c. increase by $330 billion. O d. decrease by $333 billion