Given the following macroeconomic model: 1' E E (aggregate incomelexpenditure identity) E E C +I (components of expenditure) (3 : 0.81\" + 200 (consumption mction; behavioral relationship) I = 1800 (exogenous investment) C _ (f: (equilibrium condition) 1) Find the equilibrium levels of income and consumption. Suppose the government now levies a tax, T, on household income, therebyr reducing household income to Y T. When the government spends the tax revenue this becomes a new source of aggregate expenditure or demand G , with G E T . 2) Find the new equilibrium level of income, if T = 500. 3) Find the new equilibrium level of consumption. 4) What is the economic interpretation of Y T ? _- r1: Solve for the equilibrium price and quantity: 1) Qp=-0.5P + 40, Qs =3P-16; for values of P between 0 and 60. 2) QD=-3P +400, Qs =2P -100; for values of P between 0 and 200. 3) P = -- 3 QD + 36; P = 3Qs +9.Given the following functions, solve for the equilibrium price and quantity. 1) Qs = P2 + 4P +8; Qp =-0.5P+21 2) PS = 20 +1; Pp = -Q' +4