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1 Use the table below to solve this problem. Level of Output | onsumption | Saving APC APS MPC MPS 480 512 32 1.0667 ~0.0667 08 0.2 520 536 6 | 10308 20,0308 0.8 0.2 560 560 0 | 1 0 0.8 0.2 600 584 16 | 0.9733 0.0267 0.8 0.2 640 608 2 0.95 0.05 08 02 680 632 48 0.9294 0.0706 08 02 720 656 64 [ oo 0.0889 0.8 0.2 760 680 80 [ 08947 0.1053 0.8 0.2 800 704 96 | 0.88 0.12 0.8 0.2 Suppose the wealth effect is such that $10 changes in wealth produce $3 changes in consumption at each level of income. Assume real estate prices tumble such that wealth declines by $320. Instructions: Enter your answers as whole numbers. a. What will be the new level of consumption at the $680 billion level of disposable income? $ b. What will be the new level of saving