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Consider the goods market for a small open economy, where & is the real exchange rate, X are exports, IM are imports and Y* is foreign income. C = 241 + 0.55YD X = 0.18Y* - 1118 1 = 0.1Y - 736 i IM = 0.6Y + 808 G = 974 Y* = 3342 1= 0.01 (1%) & = 1 T = 1081 Calculate the equilibrium level of output and the trade balance in this economy: O A. Y =1100.9; NX = - 231.88 O B. Y = 1077.9; NX = - 236.18 O C. Y= 1059.03; NX = - 228.31 O D. Y = 1119.2; NX = - 242.48Nominal interest rates differ from real interest rates in that real interest rates are expressed in terms of Consider an economy where the nominal interest rate is 6.8% and the expected inflation rate is 9.5%. The real interest rate is |%. (Enter your response as calculated; do not round.) dollars goods