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Question 2 Given that the following information about the Ghanaian economy; C = 100+0

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Question 2 Given that the following information about the Ghanaian economy; C = 100+0.7Yd I = 110 G= 200 TR = 80 X = 40 M= 20+0.5Y T= 60+0.37Y a) Calculate the equilibrium national income. b) Calculate the amount of consumption and import at equilibrium income level. c) If government expenditure falls by 20%, calculate the new equilibrium national income, hence the new level of consumption and import. d) Find the induced tax and interpret it. e) Calculate the private savings, government savings and the national savings.