Insert Table Chart Text Shape Media Comment Collaborate Recall, private means that there is no government and closed means that there is no foreign trade. Use the information in the Table 1 to analyze aggregate expenditures (AE) model below (Figure 1. Equilibrium in a Private Closed Economy). Figure 1. Equilibrium in a Private Closed Economy 45 degree Aggregate Expenditures AE 388 372 356 340 324 308 292 276 260 Real Domestic Output 240 260 280 300 320 340 360 380 400 1.3. Identify the mistake and explain why the graph of the aggregate expenditures line does not correctly illustrate the economy's equilibrium