Please answer asap.

An economy is described by the following equations: C = 500 +0.75(Y T) I = 1000 50r M/P=Y 200r G = 1000 T = 1000 M = 6000 P= 2 (a) Derive and graph both the IS and LM curves. [4 marks] (b) Calculate the equilibrium interest rate and income. Label these points on your graph. [3 marks] (c) Suppose a newly elected government cuts taxes by 20%. Assuming that money supply is held constant, what are the new equilibrium interest rate and income? What is the tax multiplier implied by your result? [5.5 marks]