Ouestion 3(25 points ) Dreamland economy has the following national income model: Y=C+b+G0C=C0+b(YT)T=T0+tY (Y: national income, C: household consumption, T : tax, l0 : private investment, G0 : government spending, C0 : autonomous consumption, T0 : lump-sum tax, b : marginal propensity to consume, and t: tariff). a. Find national income equilibrium of Dreamland economy. (7 points) b. Given C0=500;b0=3,200;G0=3,000;T0=400;b=0.75;1=20%, calculate the impact of tariff tax change to national income equilibrium. Interpret your result. (10 poin) c. If tariff decreases to 10%, compare the national income equilibrium before and after the policy is implemented. Does it give consistent direction of change to that in point (b)? Explain. (8 poin) Ouestion 3(25 points ) Dreamland economy has the following national income model: Y=C+b+G0C=C0+b(YT)T=T0+tY (Y: national income, C: household consumption, T : tax, l0 : private investment, G0 : government spending, C0 : autonomous consumption, T0 : lump-sum tax, b : marginal propensity to consume, and t: tariff). a. Find national income equilibrium of Dreamland economy. (7 points) b. Given C0=500;b0=3,200;G0=3,000;T0=400;b=0.75;1=20%, calculate the impact of tariff tax change to national income equilibrium. Interpret your result. (10 poin) c. If tariff decreases to 10%, compare the national income equilibrium before and after the policy is implemented. Does it give consistent direction of change to that in point (b)? Explain. (8 poin)