Question: 1200 1000 f(x) = 0.34 x + 17.42 R = 0.94 800 Consumer spending 600 400 200 500 1000 1500 2000 2500 3000 3500 Aggregate

1200 1000 f(x) = 0.34 x + 17.42 R = 0.94

1200 1000 f(x) = 0.34 x + 17.42 R = 0.94 800 Consumer spending 600 400 200 500 1000 1500 2000 2500 3000 3500 Aggregate income i. Interpret the value of constant in the consumption equation: 17.423 (2 marks) ii. Interpret 0.3363 Y (2 marks) iii. If Saudi Arabia's GDP increases to SAR 3,000, what is the expected value of consumer spending? (4 marks)

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