Suppose that the national economy is experiencing a recession with an estimated recessionary gap of $15 billion. Congress is considering the use of fiscal policy to ease the recession, and due to current political sentiments, it has determined that the maximum spending increase the government is willing to support is $3 billion. The government wants to make up the remainder of the recessionary gap using tax cuts. If a spending increase of $3 billion is approved and the MPC is 0.75, by how much will taxes need to be reduced to close the remainder of the recessionary gap?

Examine the dates in this timeline: • 1918: the ottoman empire loses control of iraq to the britishfollowing world war i.• 1932: the kingdom of iraq is granted its independence from greatbritain• 1945: mustafa barzani leads a failed rebellion against the iraqigovernment• 1948: the al-wathbah uprising results in protests against the iraqigovernment before it is violently suppressed.• 1958: the kingdom of iraq is overthrown by military leaders whoestablish the republic of iraq,• 1980: iraq invades iran, launching the iran iraq war.• 1990: iraq invades kuwait but is defeated by united nations forcesled by the united states.• 2003: the united states and its allies invade iraq and remove itsdictator, saddam hussein.which title would best suit the period in iraqi history from 1980 through1990? a. the era of political instability and protestb. the era of american involvementc. the era of iraqi aggressiond. the era of early iraqi independence