A closed economy is given as follows: C = 200 + 0.8(Y - T) - 500i I = 200 - 500i G = 100 T = 100 L(Y, i) = 0.5 Y - 100i The nominal money supply M bar is at 1000 with the price level at P = 2. Answer the following questions: What is the IS curve? What is the LM curve? What are the equilibrium outcome Y and interest rate i? Draw a graph to represent your answers in c). Use IS and LM curves to analyze what happens to the national income and interest rate i if the price level increases to 3 in the short run (no need to do computation)