Consider an economy withConsider an economy with a corn producer, consumers, and a government. In a given period, the corn producer grows 3 million tons of corn, and the market price for corn is $50 per ton. Of the 3 million tons produced, 2 million tons are sold to consumers, 0.5 million are stored in inventory, and 0.5 million are sold to the government to feed the army. The corn producer pays $60 million in wages to consumers and $20 million in taxes to the government. Consumers pay $10 million in taxes to the government, receive $10 million in interest on the government debt, and receive $5 million in Canada Pension Plan payments from the government. Finally, the profits of the corn producer are distributed back to the consumers. a. Calculate GDP using (i) the product approach, (ii) the expenditure approach, (iii) the income approach. (5 marks) b. Calculate private disposable income, private sector saving, government saving, national saving, and the government budget balance. Is the government budget in deficit or surplus? (5 marks) a corn producer, consumers, and a government. In a given period, the corn producer grows 3 million tons of corn, and the market price for corn