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Hi, here is the question, thank you! Short Question 3: (23 points) Consider the following GDP equation, consumption function, exports function. imports function and investment

Hi, here is the question, thank you!

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Short Question 3: (23 points) Consider the following GDP equation, consumption function, exports function. imports function and investment function and use them to answer the following questions Yt = Ct+ It + Gt + EXt - IMt It _ a; - b( Rt - T); b> o Y+ Ct =act xY. G =agYt EX = dex Yt IM = aim Yt A) Write down the formula that defines short-run output Yt in terms of actual output Yt and potential output Yt. (5 points)

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