3.02 Multipliers (40 Points) The President of the U.S. has called you to the Oval Office acking your advice on how to jumpstart the economy from the current recession. You born that the President's goal is to create a program that will generate a $540 billion increase in GDP without causing inflation- You are provided the following data that will help you to fully respond to the president Show your work! 4 points per question. SAVINGS CONSUMPTION INCOME 59200 $5-40 59740 59980 5900 $10460 1. What is the marginal propensity to consume? 2 Complete the missing data point in the SAVINGS column with an income of $9980 3 Complete the missing data point in the SAVINGS column with an income of $10460. 4. What is the marginal propensity to Save? 5. What is the multiplia?_ 6. What is the tax makiplier for this economy? _ 7. How much spending is needed to generate a total change in mal GDP output of $300 billion? 3. Will an increase in taxes have to be large, smilla, or equal to the spending program to mitigate potential inflation due to the spending program? _ 9. With the $250 billion spending program in place, what tax income would you mcommand to lessen the potential for inflation?_ 10. Assume the president has a change of bout and wants to decrease spending by $30 billion and docmase personal income taxes by $60 bullion. What is the change in RGDP output? You can now record yourself and your screen at the same