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n. n99.5- uny- n. v Help adv: o! Elli The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy. b. Now open up this economy to international trade by including the export and import figures of columns 3 and 4. Fill in the gray- shaded cells in columns 5 and 6. Check (1) (2) (3) (4) (5) (6) Real Domestic Aggregate Aggregate Output (GDP = DI), Expenditures, Private Exports, Closed Economy, Billions Imports, Billions Net Exports, Expenditures, Billions Billions Private Open Billions Economy, Billions $350 $390 $30 $20 $400 $430 $30 $20 $450 $470 $30 $20 $500 $510 $30 $20 $550 $550 $30 $20 $600 $590 $30 $20 $650 $630 $30 $20 $700 $670 $30 $20 Determine the equilibrium GDP for the open economy. billion What is the change in equilibrium GDP caused by the addition of net exports? billionCheck c. Given the original $30 billion level of exports, what would be net exports and the equilibrium GDP if imports were $10 billion less at each level of GDP? Fill in the gray-shaded cells. (1) (2) (3) (4) (5) Real Domestic Aggregate Output (GDP = DI), Expenditures, Private Exports, Net Exports, Billions Closed Economy, Billions Imports, Billions Billions Billions $350 $390 $30 $10 $400 $430 $30 $10 $450 $470 $30 $10 $500 $510 $30 $10 $550 $550 $30 $10 $600 $590 $30 $10 $650 $630 $30 $10 $700 $670 $30 $10 Equilibrium GDP = d. What is the multiplier in this example?Check $350 $3yU $30 $400 $430 $30 $10 $450 $470 $30 $10 $500 $510 $30 $10 $550 $550 $30 $ 10 $600 $590 $30 $10 $650 $630 $30 $10 $700 $670 $30 $ 10 Equilibrium GDP = d. What is the multiplier in this example? billion