Draw a graph to illustrate the desired aggregate expenditures of an economy whose participants have the following spending plans: C=$10+0.8Y 1:320 G=$30 X-M=$10 (a) What is the value of equilibrium output? (b) How much are consumers saving at equilibrium? (c) How much nonconsumer spending is being injected? ((1) Assuming that the full-employment level of output is $300, what kind of gap exists and how large is it? Identify the gap on the graph. (e) How much are consumers saving at full employment? (f) How much (nonconsumer) spending is being injected? On the following graph illustrate the impact of a sudden decline in consumer condence that reduces autonomous consumption by $50 billion. Assume MPC = 0.8. (a) What is the new equilibrium level of real output? (Don't forget the multiplier.) (b) How large is the real GDP gap? (4:) What has happened to average prices? PRICE LEVEL (average pnGe) 5010-0 200 300 400 500 600 700 0.: HEAL OUTPUT [in bullinns of dollars per year)