Fill in the column below (where all figures are in billions) by indicating whether the economy is expanding, contracting, or at equilibrium. On the graph following, draw a “Spending equals Output” line and a line showing “Total Spending.” Explain the relationship between these lines at output levels of $600 and $1,800 billion.

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Total Output $0 300 600 900 1,200 1,500 1,800 Total Spending $400 600 800 1,000 1,200 1,400 1,600 Total Spending (Billlons of Dollars) $1,800 1,500 1,200 900 600 300 0 Leakages $0 100 200 300 400 500 600 Injections $400 400 400 400 400 400 400 300 600 900 1,200 1,500 $1,800 Total Output (Billions of Dollars) Economic Condition