Completion Problems/Questions: Choose any FIVE of the following eight questions. Fill in the blanks for each of your five chosen problem/question below. Be sure to show your work, explain and illustrate your answer as appropriate and asked. Also, clearly indicate which five problems/questions you are answering. 1. In a closed private economy, autonomous consumption expenditure (a) is $400, marginal propensity to save is 0.40, aggregate income (Y) is $1,200 and investment expenditure (I) is fixed at $240. Therefore, the value of aggregate expenditure (AE) in this economy is $ Be sure to show how you have found your answer. 2. Suppose nominal GDP of a small economy in 2015 was $43 billion, the nominal GDP in 2021 was $96 billion, and the 2015 and 2021 consumer price indexes were 100 and 180, respectively. Therefore, between 2015 and 2021 the real GDP (in 2015 prices) increased by percent. Show how you have derived your answer. 3. If equilibrium level of aggregate income in a small economy is $450 billion while full-employment level of income is $600 billion, and if the value of MPC is 0.60, then a change in taxes (T) needed to reach the full-employment level of income is $ Show how you have found your answer. 4. The value of MPC in an economy is 0.76. The economy's investment expenditure (I) drops from $580 billion to $415 billion. As a result, the economy's aggregate income (Y) will change by $ . Show how you have found your answer. 5. If the required reserve ratio is 16 percent, a new deposit of $12,000 in currency to the banking system, assuming banks all remain "loaned up," will result in an increase in money supply of $_ Show how you have found your answer. 6. The small nation of Lesotho is entirely surrounded by the Republic of South Africa. A substantial percentage of Lesotho's workers cross the border and work in South Africa. Which will be larger, Lesotho's GDP or its GNP? Explain why. 7. If the demand for good X decreases and at the same time supply of good X increases, then what will happen to the equilibrium price of good X (rise/fall/remain unchanged)? . Explain with graphical illustration