C$=160+0\mathrm{.}6$YD$$I$=150$G$=150$T$=100$ Solve for the following variables: $(1)$ Equilibrium GDP $($Y$)(2)$ Disposable income $($YD$)(3)$ Consumption spending $($C$)(4)$ What is the value of marginal propensity to consume $($MPC$)?(5)$ What is the value of marginal propensity to save $($MPS$)?(6)$ Find the multiplier and autonomous spending. $(7)$ Solve for private saving and public saving. $2.$ Use the economy described in problem $1$ in Part III. $(1)$ Solve for equilibrium output. Compute total demand. Is it equal to production? $2$ ECON $2123$: Macroeconomics Problem Set $1$ Instructor: Yao Amber Li $(2)$ Assume that G is now equal to $110.$ Solve for equilibrium output. Compute total demand. Is it equal to production? $(3)$ Assume that G is now equal to $110,$ so output is given by your answer to $(2).$ Compute private plus public saving. Is the sum of private and public saving equal to investment? Briefly explain.