Question 14 (10 points) 4) Listen You are given the following information about aggregate demand at the existing price level for an economy: (1) consumption = $500 billion, (2) investment = $50 billion, (3) government purchases = $100 billion, and (4) exports = $20 billion, imports = $40 billion. If the full-employment level of GDP for this economy is $700 billion. Marginal Propensity to Consume (MPC) of the economy is 0.5. How much government purchases would be closing the GDP-gap here? Explain your answer. and show your calculation. Format BI UAE + Question 15 (5 points) 1) Listen Suppose the economy has a population of 40 million people and a labor force participation rate of 60%. Furthermore, suppose the natural rate of unemployment in the economy is 6%. If the current number of unemployed people is 3 million people, what is the rate of cyclical unemployment rate? Answer: % Your