1 of 1 1-Assume consumption is represented by the following: C = 400 + .5Y. Also assume that planned investment (1) equals 100. (a) Given the information, calculate the equilibrium level of income. (b) Given the information, calculate the level of consumption and saving that occurs at the equilibrium level of income. (c) Write out the saving function for this economy. What is the marginal propensity to save 2- Using Table 23.1 calculate a column for the unplanned inventory change at each level and determine the equilibrium output level from this information. (1) (2) (3) Aggregate Output Aggregate Planned (Income) (Y) Consumption (C) Investment (1) 100 175 25 200 250 25 400 400 25 500 475 25 600 550 25 800 700 25 1,000 850 25