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Suppose that an economy is characterized by the following behavioral equations: 1008 C = 0.65Y + 630 - 25r 100+1-1 7 - 900 - 30r E -2.91 G - 900 - 24.700 T = 690 IM = 0.15Y -2100 + 700E IT-3% EX -0.1 Y* - 750E r=F+M IT = 2% 2 - 1 F = 1% Y'* is foreign output. NX - EX - IM equilibrium equation: Y= C+/ +G+ NX E is the nominal exchange rate. YD = Y- T is the foreign nominal interest rate. Inflation and interest rates are in percent units (e.g., enter 2, not 0.02). Exogenous changes are permanent. Suppose autonomous expenditure falls by 600. 1. Calculate the change in output. Suppose the central bank lowers f from one percent to zero. 2. Calculate the new value of net exports