Answer these following questions please.

The Aggregate Expenditures Models (48 marks) A/ Consider the Closed Economy with no Government Participation Planned Expenditures: AE = C + 1 Consumption: C = 348 + 0.74 (Y) Gross Investment: I = 598 Note: Calculate the marginal propensity to spend (z) to at least four (4) decimal places. All other calculations may be rounded to two (2) decimal places. Part 1: We can write the Personal Savings equation as: S = Number + Number (Y). (2 marks) Part 2: Calculate the Break-Even disposable income: Number (3 marks) Part 3: We can write the Closed-Economy Aggregate Expenditures equation as: AE = Number Number (). (4 marks) Part 4: Calculate the equilibrium output (Y") for the Closed Economy. Number (3 marks) Part 5: Calculate the expenditures multiplier for the Closed Economy. Number (2 marks) Part 6: Calculate Personal Consumption expenditures (Ce) in equilibrium. Number (3 marks).B/ Consider the Open Economy with Government Participation (i.e. the Mixed Economy.); Planned Expenditures: AE = C + 1 + G + X - IM Consumption: C = 348 + 0.74 (Y- T) Net Tax Revenue: T = 119 + 0.26 Y Gross Investment: I = 598 Government Expenditures: G = 722 Exports: X = 798 Imports: IM = 134 + 0.09 Y Potential Output: Yp = 4,125 Note: Calculate the marginal propensity to spend (z) to at least four (4) decimal places. All other calculations may be rounded to two (2) decimal places. Part 7: We can write the Aggregate Expenditures equation as: AE =|Number Number MY). (4 marks) Part 8: Calculate the Expenditures Multiplier for the Mixed Economy. Number (2 marks) Part 9: Calculate the Autonomous Tax Multiplier for the Mixed Economy. Number (2 marks) Part 10: Calculate the Balanced-Budget Multiplier for the Mixed Economy. Number (2 marks) Part 11: Calculate the equilibrium ouput (Y") for the Mixed Economy. Number (4 marks) Part 12: Calculate the change in Government Expenditures (AG) required to close the output gap (Y-Y"). Number (3 marks) Part 13: Calculate the change in autonomous Taxes (4To) required to close the output gap (Y-Y"). Number (3 marks) Part 14: The expenditures multiplier Number for the Open Economy with Government Participation (Mixed Economy) is Click for List the expenditures multiplier Number for the Closed Economy with no Government Participation because Click for List (5 marks) Part 15: Calculate Total Injections at the equilibrium rate of output: Number (2 marks) Part 16: Calculate Total Leakage at the equilibrium rate of output: Number (4 marks)Part 14: The expenditures multiplier Number for the Open Economy with Government Participation (Mixed Economy) is Click for List the expenditures multiplier Number for the Closed Economy with no Government Participation indeterminate with always shrinks domestic output. (5 marks) indistinguishable from smaller than ections at the equilibrium rate of output Number (2 marks) larger than equal to akage at the equilibrium rate of output: Number (4 marks)Click for List the expenditures multiplier Number for the Closed Economy with no Government Participation because international trade always shrinks domestic output. (5 marks) international trade always shrinks domestic output. Part 15: ( the Open Economy with Government has more sources of Leakage than Injections. marks) closed-economy and open-economy multipliers are not comparable. Part 16:0 government deficits reduce domestic expenditures. marks) the Closed Economy has more sources of Injections. leakages rise with income but injections don't.2 An Application of the Third Equilibrium Condition: Total Injections equals Total Leakage (12 marks) 1: Consider an economy characterized with the follwing data in equilibrium: Personal Saving (S): $337.3 million Business Investment Expenditures (1): $752 million Exports (X): $888 million Imports (IM): $618.75 million Note: Calculate your answers to THREE decimal places. Do NOT include the dollar sign or commas separting "000s". Part 1: Calculate Public Saving (T - G) in equilibrium: Number (3 marks) Part 2 : Calculate the level of Taxes in equilibrio if government expenditures (G) is $622 million: Number (2 marks) Part 3: Calculate Total Leakage: Number (2 marks) 2: If Personal Saving is given by: S = -420 + 0.24 YD: a) We can write the Personal Consumption equations as: Number + Number (Y). (3 marks) b) Calculate the break-even disposable income (YDeE): Number (2 marks)3 Use the two-panel Graph below to answer the questions that follow. The economy's original equilibrium is denoted point A in each graph. (32 Marks) Panel 1: Aggregate Expenditures Panel 2: Aggregate Demand & Supply AE = Y AE _ AE, B AE E AE2 421 111.3 36 108.6 104 YO 1,864 Y2 Real_GDP 1,760 1,864 1,994 2,162 Y Note: For your answers that have decimals, use two (2) decimal places. Each question is worth 2 marks unless otherwise stated. Part 1: Suppose businesses increased gross investment expenditures by $58 million. In the Aggregate Expenditures model, this increase in business investment spending will Click for List Part 2: The increase in business investment expenditures will directly Click for List Part 3: In Panel 2 of the graph, the increase in investment expenditures will Click for List and Click for List The short-run output gap measured in the Aggregate Demand- Aggregate Supply model (Panel 2) is |Number Part 4: Based on the Aggregate Demand - Aggregate Supply model (Panel 2), the increase in investment expenditures: a) Raised output in the short run by: Number b) Caused how much inflation in the short run? Number Part 5: The increase in business investment expenditures increased autonomous expenditures by: NumberPart 5: The increase in business investment expenditures increased autonomous expenditures by: Number Part 6: Calculate the expenditures multiplier in the Aggregate Demand-Aggregate Supply model (Panel 2) based on output changes resulting from the increase in business investment expenditures: Number (3 marks) Part 7: Using numbers from the Aggregate Demand-Aggregate Supply model (Panel 2), what is the new equilibrium output in the Aggregate Expenditures model (Panel 1) after the increase in business investment expenditures? Number Part 8: Calculate the expenditures multiplier from the Aggregate Expenditures model (Panel 1): Number (3 marks) Part 9: Based on the Aggregate Expenditures model (Panel 1), how much inflation resulted from the increase in business investment expenditures? Number Part 10: Based on the Aggregate Demand - Aggregate Supply model (Panel 2), the economy's long-term response to the increase in business investment spending will Click for List Part 11: Based on the Aggregate Demand - Aggregate Supply model (Panel 2), how much did output increase in the long run as a result of the increase in business investment expenditures? Number Part 12: Based on the Aggregate Demand - Aggregate Supply model (Panel 2), how much inflation did the increase in business investment expenditures cause in the long run? Number- Question 4 Identify the word, concept, or expression most closely related to the word, concept, or expression below: Slope of the Aggregate Expenditures curve Click for List 2 points Zero savings 45-degree line - Question 5 Identify the word, concept, or expression mo ept, or expression below: Marginal propensity to spend Break-even Disposable Income Click for Lie 2 points Leakage Average propensity to consume Injections- Question 5 Identify the word, concept, or expression most closely related to the word, concept, or expression below: Break-even Disposable Income Click for List 2 points Multiplier Effect Taxes Average propensity to consume Unplanned inventory change Marginal propensity to spend Zero savingsQuestion 6 An increase in households' wealth will increase Autonomous expenditures. O True 2 points O False Question 7 In National Income Accounting, an increase in business inventory of inputs and finished products increases actual business investment expenditures (Ia). 2 points O True O False Question 8 If we know households' marginal propensity to consume, we also exactly know the marginal propensity to save. O True 2 points O False Question 9 An increase in interest rates shifts the Investment Demand curve up and increases Business Investment Expenditures. O True 2 points O FalseQuestion 10 What kind of economic shock does the following statement represent? Business Investment confidence slumps on COVID-19 fears: Click for List 2 points Changes Long-Run Aggregate Supply Positive Aggregate Demand Shock Question 11 What kind of economic shock does the following statement rep Negative Aggregate Supply Shock Energy sector enjoys new and improved technologies: Click 2 points Negative Aggregate Demand Shock Positive Aggregate Supply Shock Changes both Short-run and Long-run Aggregate SupplyQuestion 11 What kind of economic shock does the following statement represent? Energy sector enjoys new and improved technologies: Click for List 2 points Negative Aggregate Supply Shock Positive Aggregate Supply Shock Positive Aggregate Demand Shock Negative Aggregate Demand Shock Changes Long-Run Aggregate Supply Changes both Short-run and Long-run Aggregate SupplyQuestion 12 What effect does the shock described below have in the Aggregate Demand-Aggregate Supply model? US imports from Canada fall under a growing "Buy American" sentiment. Effect on Canada: 2 points Click for List Shock shifts both AD and AS curves Shock causes an upward movement along AD curve - Question 13 Aggregate Demand-Aggregate Supply model? Shock causes a downward movement along AD curve Click for List 2 points Shock causes an upward movement along SRAS curve Shock causes a movement along both AD and AS curves Shock causes a downward movement along SRAS curveQuestion 13 What effect does the shock described below have in the Aggregate Demand-Aggregate Supply model? The Energy sector enjoys new and improved technologies: Click for List 2 points Shock causes a downward movement along SRAS curve Shock causes a downward movement along AD curve Shock causes an upward movement along AD curve Shock shifts both AD and AS curves Shock causes a movement along both AD and AS curves Shock causes an upward movement along SRAS curveQuestion 14 Identify the word, concept, or expression most closely related to the word, concept, or expression below: Non-discretionary fiscal policy: Click for List 2 points Automatic stabilizers Economy's self-adjustment Question 15 Identify the word, concept, or exp OW: Discretionary Fiscal Policy Change in resource prices Cli 2 points Both Aggregate Demand and short-run Aggregate Supply curves shifts Short-run Aggregate Supply curve shifts Long-run Aggregate Supply curve shiftsQuestion 15 Identify the word, concept, or expression most closely related to the word, concept, or expression below: Discretionary Fiscal Policy Click for List 2 points Short-run Aggregate Supply curve shifts Long-run Aggregate Supply curve shifts Aggregate Demand curve shifts Automatic stabilizers Change in resource prices Economy's self-adjustment16 The Short-run Aggregate Supply curve shows how much output businesses will supply at different prices. True False 17 The long-run Aggregate Supply curve shows how much output businesses will supply at any given price level. O True O False 18 Stagflation occurs when expansionary fiscal policy pushes output beyond potential. O True O False 19 An increase in imports represents a negative Aggregate Demand shock. O True O False 20 An increase in imports represents a positive Aggregate Supply shock. O True O False