- An economy is described by the following equations: C=1000+0.6(Y−T)−1500rIP=700−1500rG=1700NX=100T=900Y∗=6650​ The real interest rate, expressed as a decimal, is 0.05. 1. Find a numerical equation relating planned aggregate expenditure to output. 2. Using a table or algebra, solve for short-run equilibrium output. 3. Show your results graphically using Keynesian-cross diagram. 4. What real interest rate should the Fed set to bring the economy to full employment? 5. What if Y∗=6275 ? (repeat 4)