Question: Question 4 (Marks: 20) Answer all questions Q.4.1 State the three possible relationships between production, income and spending in macroeconomic theory. 0.4.2 Use the Information

Question 4 (Marks: 20) Answer all questions Q.4.1 State the three possible relationships between production, income and spending in macroeconomic theory. 0.4.2 Use the Information below to answer the questions below. C = 400 + 0.GY I = 500 Q.4.2.1 Calculate autonomous spending. Q.4.2.2 Calculate the equilibrium level of income. Q.4.2.3 illustrate with the aid of a diagram the equilibrium level income calculated in Q.4.2.2

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