Suppose that we begin with an economy with a price level of 100 {p = 100]. At this price level, the functions for C, I, G, and NR are given by: C = 8,000 + 0.3[1 tjl' I = 2,000 6 = 4,000 NX = 2,000 0.121\" Assume that the tax rate [t] begins at 10%. 1. Write down an expression for the AEF. What isthe equilibrium Desired National Income {'1'} at p = 100? Now suppose that both X and C respond to the price level. Specifically, for every 10 increase in p, Autonomous Desired C decreases by 600 and Autonomous Desired Exports decreases by 200. 2. Suppose that the price level increases to p = 140. What is the new equilibrium Desired National Income {Y} at p = 140? This relationship between p and the demand for Y is enough to derive an Aggregate Demand {AD} curve. 3. Use your answer from 01 and Q2 to write down the Aggregate Demand Curve in this case, with Demand for GDP {Y} as a function of the price level [p]. 41. Plot this Demand Curve w'rth GDP {Y} on the x-axis and the price level [pi on the y-axis. Label both the x-intercept and yintercept for the AD curve. What is the slope of this AD curve