1. (7.5pts) Compute the equilibrium levels of consumption, the trade balance, and the current account in periods 1 and 2. 2. (7.5pts) Suppose that 71 = 0. What is 72? What is private, public, and national saving in periods 1 and 2? 3. (10pts) Suppose now that T1 increases from 0 to 2 while government purchases are unchanged. How does this tax hike affect the current account and the fiscal deficit in period 1? Briefly explain your result