The following equations describe an economy: [M/P]d =Y-20r M=600 100-10r P=2 Required: i. Identify each of the variables and briefly explain their meanings [6 Marks] ii. From the above list, use the relevant set of equations to derive the IS Curve. Graph the IS on a well labeled diagram. [6 Marks] iii. From the above list, use the relevant set of equations to derive the LM curve and draw the LM curve. [4 Marks] iiii. Determine the equilibrium level of income and equilibrium interest rate