1. The price of corn is held above equilibrium. Use the Full Hill method steps to show what happens to the price and quantity of corn. 2. Compute the Average Rate of tax and tell me what type of tax it is. Bracket Change in Bracket MRT $0-$1000 .1 $1001 -$2000 .2 $2001 - $3000 .3 3. List the functions, subfunctions of government and give an example of each subfunction 4. Given: MPC = .9, Change in Income =100, Current GNP = 90, Change in Money supply = 200, reserve ratio is .2 Show using the formula what the New or Full employment GNP is and list all the Monetary (Quantitative and Qualitative) and Fiscal policies (Discretionary and Non-Discretionary) and circle which ones change. Change in tax Total Tax