a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy. billion 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. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in ok front of those numbers. nt What is the equilibrium GDP for the open economy? billion What is the change in equilibrium GDP caused by the addition of net exports? $ billion c. Given the original $20 billion level of exports, what would be net exports and the equilibrium GDP if imports were $10 billion greater at each level of GDP? Fill in the gray-shaded cells. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.The data in columns 1 and 2 in the table below are for a private closed economy. (2) Aggregate (1) Real Domestic Expenditures, (6) Aggregate Output (GDP - DI), (3) Exports, (4) Imports, (5) Net Expenditures, Private Closed Billions Billions Exports, Private Open Billions Economy, Billions Billions Economy, Billions $400 $440 $20 $30 -10 450 480 20 30 500 520 20 30 550 560 20 30 600 600 20 30 650 640 20 30 700 680 20 30 750 720 20 30 a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy. billionA (2) Aggregate (1) Real Domestic Expenditures, (6) Aggregate Output (GDP - DI), Private Closed (3) Exports, (4) Imports, (5) Net Billions Billions Exports Expenditures, Billions Economy, Billions Open Economy, Billions Billions 2 $400 $440 $20 $40 points 450 480 20 40 500 520 20 40 eBook 550 560 20 40 Print 600 600 20 40 650 640 20 40 700 680 20 40 750 720 20 40 Net exports = $ billion Equilibrium GDP = $ billion d. What is the multiplier in this example