7. Fill in the following table and answer these questions based on: MPC = 0.6, 1 = $500, G = $700, and T = $500 1. What is the equilibrium income? 2. What are the injections (G+1) and leakages (S+T) at this income? 3. What will happen to equilibrium GDP if government spending goes up to $400? If Investment goes up to $400 instead? Q Disposable Income Consumption D = C+I+G $2000 $1500 $1200 $2400 $3000 $4000 $5000 6000