1. Given the following information in the table below, decide whether the result is a recessionary gap or an inflationary gap Equilibrium GDP Potential GDP Recessionary Gap Inflationary Gap $300 $200 $300 $400 2. If the government determines that Y* > YP, what is one possible fiscal policy solution to this problem? a. Is the solution you stated considered a Democrat or Republican approach to the O problem? b. Is this solution considered a Restrictive or Expansionary fiscal policy? c. What is the monetary policy solution to this problem (Y* > YP)? 3. If the government determines that Y*