Suppose that the behavior of households, firms and the government in an economy is determined by the following equations: C=200+0.6Yd 11 = 40 G = 60 T=80 TR=40 The full employment level of output in the economy is: YFE = 720 i. Find an expression for aggregate expenditure (This should take the form of AE = a + bY, where a and b are numbers): ii. What is the equilibrium level of output? YE = iii. Is the government running a budget surplus or a deficit? (Just write surplus or deficit) iv. What is the size of the surplus/deficit? (Just give the absolute number without a plus/minus sign) ili. What is the government spending multiplier in this economy? iv. What is the tax multiplier in this economy? v. Suppose that the government wanted to achieve the full employment level of output. By how much would government spending need to increase to get the economy to full employment? vi. Suppose that the government wanted to achieve the full employment level of output. By how much would taxes need to decrease to get the economy to full employment