Question 1Please be carefully when drawing the graph, the last question I asked like this was answered incorrectly…The economy is depicted by the expenditures function as shown.Suppose that the government decided to increase government spending by $4 trillion.Using the line drawing tool, draw the new expenditure line after the increase in government spending. Properly label your line.Carefully follow the instructions above, and only draw the required objects.Question 2Suppose that the economy is depicted by the following relationship:Expenditures = C I G Xwhere: C = $100 0.90 (Y−T)G = $500T = $500I = $200X = $150The economy is in equilibrium at a level of real GDP or income of $ _________(Round your answer to the nearest dollar.)Now suppose that the government decides to increase government spending by $125.What is the new equilibrium level of GDP or income? $_________ (Round your answer to the nearest dollar.)
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