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The following parameters describe the structure of a hypothetical economy: Autonomous consumption=300 Autonomous investment=280 Autonomous taxes=100 Autonomous money demand=20 Autonomous government expenditure=100 Nominal money supply=66 P=1 Tax rate=1/5 Marginal propensity to consume=5/6 Interest elasticity of investment=20 Interest elasticity of demand for money=10 Income elasticity of demand for money=1/5 What are the equilibrium values of income and interest rate? (ii) Find the new equilibrium income and interest rate if the government increases its spending by 99 units. (iii) Determine how much of investment is crowded out when the fiscal policy outlined in part (ii) above is implemented. Show workings. (iv) Redo part (iii) above when the economy is in liquidity trap. ( V ) Redo part ii) above if autonomous taxes are increased by 66 units. ( vi) Find the new equilibrium income and interest rate if a 198 unit increase in government spending is financed by a 198 unit increase in autonomous taxes. Let the initial equilibrium income and interest rate be the values obtained under part (i) above. (vii) Assume a 121 unit increase in government spending is financed partly by a 99 unit increase in taxes and a 22 unit increase in money supply. Without deriving the new IS-LM equations, find the new equilibrium income and interest rate. Let the initial equilibrium income and interest rate be the values obtained under part (i) above. (viii) If government wants equilibrium income and interest rate increased by 450 and 2.864 units respectively, determine how much government spending and money supply should change to achieve these targets