Q1:You are given the following income expenditures model for an economy: (7 Mark) Consumption C = 300+.64Yd Tax (T) = 360 Government expenditure G=$100 Investment (I) = $120 From above data calculate the follows: 1. Equilibrium level of income 2. At the equilibrium level of income, what is the amount of consumption? 3. At the equilibrium level of income, what is the amount of savings? 4. Marginal Propensity of Saving (MPS) 3. Tax multiplier in this economy? 6. Budget deficit 7. Unplanned inventory Q2: Explain difference between GDP and GNP. Support your answer with simple examples from Omas economy. (3 Mark)