I. The following are information regarding an economy in year 2020. C = $400 + 0.8Yd; I = $430 ; G =$ 400; T = $150; X = 360; M = $270 Based on this information, answer the following questions: a) Calculate the equilibrium level of national income using Aggregate Supply = Aggregate Demand Approach (2 marks) b) Determine the total saving at the equilibrium level of national income. (1 mark) C) If the economy is producing at full employment of $8000, is it facing an inflationary gap or deflationary gap? (1 mark) d) State any two (2) macroeconomic objectives. (2 marks) II) Based on the following table, answer the questions. Year Nominal GNP CPI ($ million) 2019 28,000 100 2020 33,000 110 a) Calculate the Real GNP for year 2020. (2 marks) b) Calculate the growth rate between year 2019 and 2020. (2 marks)