please help will upvote if correct

8. The income-expenditure model Consider a small economy that is closed to trade, so its net exports are equal to zero. Suppose that the economy has the following consumption function, where is consumption, Y is real GDP, 1 is investment, G is government purchases, and stands for net taxes: C-20 +0.75 X(Y-T) Suppose - $35 billion, 1 - 560 billion, and T - $20 billion G Given the consumption function and the fact that for a closed economy total expenditure can be calculated as Y C++, the equilibrium output level is equal to Suppose the government purchases are increased by 550 billion. The newegumbrium level of output will be equal to Based on the effect of the change in government purchases on equilibrium output, you can tell that this economy's spending multiplier is equal to Save & Continue Grade Now