If the mpc = .80, all taxes are lump-sum taxes, and the equilibrium gdp is $40 billion below the full-employment gdp, the size of the recessionary gap is

a) $40 billion
b) $20 billion
c) $8 billion
d) cannot be determined from the information given

recessionary gap = 8 billion

so correct option is c) $8 billion

Explanation:

given data

MPC = 0.80

GDP = $40 billion

to find out

the size of the recessionary gap

solution

we get here first Multiplier  that is

Multiplier  =     ..................1

Multiplier  =

Multiplier  = 5

so recessionary gap will be

recessionary gap =     ................2

recessionary gap =

recessionary gap = 8 billion

so correct option is c) $8 billion

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.