5. Consider a closed classical economy and suppose there is a one-time decrease in the level of the money supply. 1What will happen to the following? Please provide a brief explanation of your answer. (a) Real output (3 points) (b) Consumption (3 points) [-2) National saving (3 points) (d) Investment [3 points) (e) Price level (3 points) 6. Consider a small open classical economy and suppose the government decreases its taxes. 1What will happen to the following? Please provide a brief explanation of your answer. (a) Real output (3 points) {b} Consumption (3 points) {c} National saving (3 points) {d} Net exports {3 points) MiaEnam