Consider an economy with the following data:Equilibrium income = $212.38b consumption expenditure = $155 b

Planned investment = $19 b

Government expenditure = $27 b

Export expenditure = $86 b

Import expenditure = $73 b

Autonomous taxes = $8 b

Income tax rate = 19%

Marginal propensity to save = 0.3

Marginal propensity to import = 0.1

a). If income currently equals $240b calculate the level of autonomous consumption.

b). Calculate autonomous net exports when income is equal to $240b.

c). Calculate the level of actual investment AND unplanned investment when income is equal to $240b (solve answers to two decimal places).

d). Illustrate this economy using the aggregate expenditure model assuming that actual income is $240b and equilibrium income is $212b. On your diagram, identify as required the vertical distance that represents unplanned investment calculated in part 3.

Ensure you label all axis and each component (line) you draw in your diagram.