VVIII in this Section on Monday Toth May from 12pm until 2pm _ ECON101 Week 24 Test Which type of gap is monetary policy likely to be most effective at closing, according to the Keynesians? a. Inflationary gap . b. Stagflationary gap . c. None of the above . d. Recessionary gap Suppose the government decreases tax rates dramatically in order to close a negative output gap. We would expect to see the aggregate demand shift to the a. right and a move down the short-run Phillips curve. . b. right and a move up the short-run Phillips curve. . c. left and a move down the short-run Phillips curve. d. left and a move up the short-run Phillips curve