Zoom in to see pls

D Question 7 2 pts Suppose the economy has an inflationary gap. What fiscal policies might be used to close the gap? O reduction in government purchases O increase in transfer payments decrease in taxes A combination of an increase in transfer payments and an increase in government purchases D Question 8 2 pts The great recession was not identified until October 2008, when the Business Cycle Dating Committee of the National Bureau of Economic Research announced that it had begun in December 2007. This is an example of O an implementation lag O an impact lag a recognition lag crowding out D Question 9 2 pts A tax cut was proposed to presidential candidate John F. Kennedy in 1960 as a means of ending the recession that year. He recommended it to Congress in 1962. It was not passed until 1964, three years after the recession had ended. This is an example of an implementation lag an impact lag O a recognition lag crowding out D Question 10 2 pts Which of the following statements is TRUE? Because an expansionary fiscal policy either increases government spending or reduces revenues, it increases the budget deficit O Because an expansionary fiscal policy either increase luces revenues, it increases the budget surplus Because an expansionary fiscal policy eith es revenues, it has no effect on the budget Because an expansionary fiscal policy either increases government spending or reduces revenues, it leads to a balanced budget Question 11 2 pts Which of the following statements is FALSE? An expansionary policy tends to increase real GDP An expansionary policy is used to close a recessionary gap O An contractionary policy is used to close a essionary gap A contractionary fiscal policy tends to reduce real GDP