Question: (Advanced Analysis) Linear equations for the consumption and saving schedules take the general form C + by and savings S=-0+ 1 - b) Y, where

 (Advanced Analysis) Linear equations for the consumption and saving schedules take

(Advanced Analysis) Linear equations for the consumption and saving schedules take the general form C + by and savings S=-0+ 1 - b) Y, where CS and Yare consumption, saving, and national Income, respectively. The constant a represents the vertical intercept, and bis the slope of the consumption schedule. a. Use the following data to determine numerical values for a and bin the consumption and saving equations: National Incone (1) $0 100 200 300 400 Consumption (c) $70 140 210 280 350 Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) In front of those numbers. c-sl 70 07 Y S$ -701 03Y b. What is the economic meaning of b? Click to selec What is the economic meaning of (1-b)? (Click to select c. Suppose that the amount of saving that occurs at each level of national income falls by $20 but that the values of band (1-0) remain unchanged. Restate the saving and consumption equations for the new numerical values, and cite a factor that might have caused the change Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) In front of those numbers. C=$ (Click to select S=$ (Click to select Y Which of these factors might have caused this change? (Click to select

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