1 Consider an economy following the One-Period Model. Suppose that a large government spending bill is passed by the government, increasing government spending dramatically. a. Plot a graph depicting the situation described above b. What will happen to the levels of consumption and leisure of the representative consumer in this economy after the increase in government spending? Explain intuitively. c. What will happen to hours worked and output after the new administration increases government spending? Explain intuitively. d. Will the representative consumer be better or worse off as a consequence of an increase in government spending in this model? Explain intuitively