Homework answers / question archive / ANALYSIS Linear equations for the consumption and saving schedules take the general form: 17 C= a + by and S=-+ (1 - b), eBook where CS, and Yare consumption, saving, and national income, respectively

ANALYSIS Linear equations for the consumption and saving schedules take the general form: 17 C= a + by and S=-+ (1 - b), eBook where CS, and Yare consumption, saving, and national income, respectively

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ANALYSIS Linear equations for the consumption and saving schedules take the general form: 17 C= a + by and S=-+ (1 - b), eBook where CS, and Yare consumption, saving, and national income, respectively. The constant a represents the vertical intercept, and b represents the slope of the consumption schedule. a. Use the following data to substitute specific numerical values into the consumption and saving equations. National Income (7) $0 200 400 Consumption (C) $ 120 280 440 800 600 800 760 ME
Submit Instructions: If you are entering any negative numbers be sure to include a negative sign (4) In front of those numbers. 17 C- Y Sa eBook b. What the economic meaning of b? (Click to select) What is the economic meaning of (-b)? (Click to select)
Sk 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 - remain unchanged. Restate the saving and consumption equations Inserting the new numerical values. Instructions: If you are entering any negative numbers be sure to include a negative sign in front of those numbers. Se Y ptx