QUESTION ONE (a) (i) How is macroeconomics different from microeconomics? (3 marks) (ii) What are the four uses and three limitations of National Income (7 marks) (b) (i) Distinguish between endogenous and exogenous variables (3 marks) (ii) Given the model C-antcY"+ 1+G Identify the endogenous and exogenous variables (4 marks) c) The following information was obtained from a hypothetical economy C= 30 +0.8Y (i) Compute the level of National Income at the equilibrium (4 marks) (Hi) Calculate the investment multiplier and interpret it (4 marks) QUESTION TWO Country Y's economic growth rate was 1.2% in the year 2010. The welfare of the citizens was therefore 1.2% better than in the year 2009. Comment critically on this statement. (15 marks) QUESTION THREE Given the following information about hypothetical economy C= 500+ 0.75Y 1= 400 G=700 T=300 Where, C= Consumption I= Investment G= Government spending Y= Real income T= Taxes