Submit a 4- to 5-page paper that addresses the following questions. Be sure to usereferences within the paper to support your answers. Show work for all calculations. According to Okuns Law, if the normal rate of growth of GDP is 3% and the currentunemployment rate is 6%, an increase in GDP growth to 4% would cause unemploymentto change by what percentage? When total output, income, employment, and trade decline for 6 to 12 months, theeconomy is in what part of the business cycle? Which has a larger effect on aggregate demand: an increase in government expenditure oran equal sized decrease in taxes? Explain your answer. To eliminate a recessionary gap, what fiscal policy should the government pursue? Bespecific. Indicate which of the following is expansionary OR...