Contractionary monetary policy a. leads to disinflation and makes the short-run phillips curve shift left. b. leads to disinflation and makes the short-run phillips curve shift right. c. does not lead to disinflation but makes the short-run phillips curve shift left. d. does not lead to disinflation but makes the short-run phillips curve shift right.

Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)