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2. An open economy is in equilibrium when: Y = C + I + G + X - M, where Y = national income, C = consumption, I = investment, G = government expenditure, X = exports, and M = imports. a. (3 points). Determine the equilibrium level of income given that C = 0.8Y + 80, I = 70, G = 130, X = 100, and M =0.2Y + 50 b. (3 points). How much is the consumption level considering the equilibrium level of income? c. (3 points). What is the value of net exports (NX) considering the equilibrium level of income