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Make sure to write down all steps. Your answers should be rounded to three decimal places. You have been hired as the economic advisor of a small open economy, Aldovia. On your first day of work, you are presented with the following table that contains some information from the national income and product accounts. All data are in billion Aldos (the currency of Aldovia). Category Value Exports 150.00 Receipts of Factor Income from the Rest of the World 50.00 National Income 1320.00 Depreciation 5.00 Compensation of Employees 800.00 Receipts of Factor Income from the Rest of the World 50.00 Net Investment 145.00 Inventory Adjustment 25.00 Imports 135.50 Payments of Factor Income to the Rest of the World 40.00 Corporate Profits 240.00 Government Consumption and Gross Investment 164.50 Statistical Discrepancy 10.00 The chief economic advisor of Aldovia informs you that her best estimate of autonomous consumption in Aldovia is 188 billion Aldos. 1. Calculate GDP in billion Aldos. 2. Calculate household consumption in billion Aldos. 3. The Parliament of Aldovia is discussing the high level of unemployment in the country. They are exploring options to stimulate the economy and reduce unemployment. They ask you to calculate by how much they should increase government spending to raise aggregate output by 350 billion Aldos. 4. A parliament member asks you whether the increase in government spending will create inflation. Use the AS-AD curves to illustrate what will happen to the price level in the short-run in Aldovia. Explain why there will or will not be high inflation