Part I: Multiple Choice (1 mark each, 30 marks total) Choose the one alternative that best completes the statement or answers the question. 1. Consider the following major macroeconomic relationship where Y is the level national output or GDP, X is the level of exports, M is the level of imports, C is the level of household consumption, G is the government expenditures, and I is the level of investment. Which of the following is false? 1. Y+X=C+I+G+M b. Y - C - I - G - X +M=0 [. X - M= Y - C-I- G d. Y+M=C+I+G+X e. Y =C+I+G+X- M