Il. Modified True or False. Each item is worth 1 point only and will only be given to correct answers. Read the instruction carefully and answer the items below. For items 7-11, write TRUE if the answer is true. If the answer is false, replace the underlined word/s with the correct answer. 7. An increase in autonomous spending increases actual output. 8. An increase in taxes will increase national output while an increase in government spending decreases national output. 9. The multiplier measures equilibrium income per peso of autonomous spending. 10. The economy is in equilibrium when the consumption function is equal to national income or output. 11. If planned expenditure is higher than national output or income, firms decrease production to move the economy back to equilibrium level.III. Graph it out and explain. Your graph for each item will be worth 4 points each. Refer to the problem set assignment for the scoring guide. Meanwhile, your explanations are worth 2 points each. For items 1213, graph the AE curve provided the following oonditions. Make sure that your labels are complete and correct. Provide a brief explanation below your graph. 12. Graph the movement of the AE curve if the government decides to reduce taxes. Include what happens to national income or output in your explanation. 13. Graph the movement of the AE curve if the govemment decides to decrease government expenditure. Include what happens to national income or output in your explanation