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Assume that, without taxes, the consumption schedule of an economy is as follows: GDP, Billions Consumption. Billions a. What is the value of the MPC? Graph the resulting consumption schedule. Instructions: Use the tool provided 'CE' to draw the consumption schedule. Plot 8 points total. C) Consumption Expenditure 800 Tools 700 x/ 500 CE 500 400 300 200 Consumption (billions of dollars) 100 45 :3 0 100 200 300 400 500 600 700 800 \\J Real domestic product, GDP (billions of dollars) b. Assume now that a lump-sum tax is imposed such that the government collects $10 billion in taxes at all levels of GDP. Add the after- tax consumption to the table below. Compare the MPC and the multiplier with those ofthe pretax consumption schedule. Instructions: Round your answers to 1 decimal place. MPC after tax = Multiplier after tax = |:|. The MPC and multiplier are | (Click to select) v