3 (Advanced Analysis) Linear equations for the consumption and saving schedules take the general form C= a + by and savings S= -a + (1 - b) Y, where C, S, and Y are consumption, saving, and national income, respectively. The constant a represents the vertical intercept, and b is the slope of the consumption schedule. a. Use the following data to determine numerical values for a and b in the consumption and saving equations: 02:41:47 National Income (Y) Consumption (C) $0 $150 200 300 400 450 600 600 800 750 Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) in front of those numbers. C= $1 S = $ V b. What is the economic meaning of b? (Click to select v What is the economic meaning of (1-b)? (Click to select v c. Suppose that the amount of saving that occurs at each level of national income falls by $20 but that the values of b and (1 - b) 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 Which of these factors might have caused this change? V (Click to select) A decrease in the value of all the major market stock indices An increase in the value of all the major market stock indices(Advanced Analysis) Linear equations for the consumption and saving schedules take the general form C: a + bYand savings 3: a + (1 b) Y, where C, S, and Yare consumption. saving, and national income, respectively. The constant 3 represents the vertical intercept. and b is the slope ofthe consumption schedule. 3. Use the following data to determine numerical values fora and bin the consumption and saving equations: national Income (1) Conamption (C) $0 $150 Instructions: If you are entering any negative numbers, be sure to include a negative sign H in front of those numbers. C=$ + v Y S=$ - v Y b. What is the economic meaning of b? MPC meaning of (1-b)? MP5 c. Suppose that the amount of saving that occurs at each level of national income falls by $20 but that the values of b and (1 - b) 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 H in front of those numbers. C= $ (Click to select v Y 5: $ (Click to select v Y Which of these factors might have caused this change? (Click to select v . 3 (Advanced Analysis) Linear equations for the consumption and saving schedules take the general form C= a + by and savings S= -a + (1 - b) Y, where C, S, and Y are consumption, saving, and national income, respectively. The constant a represents the vertical intercept, and b is the slope of the consumption schedule. a. Use the following data to determine numerical values for a and b in the consumption and saving equations: 8 National Income (Y) Consumption (C) $0 $ 150 20 300 40 450 60 600 80 0 750 Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) in front of those numbers. C= $ + V S = $ V b. What is the economic meaning of b? (Click to select v] What is the economic meaning of (1-b)? (Click to select v c. Suppose that the amount of saving that occurs at each level of national income falls by $20 but that the values of b and (1 - b) 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 = $ V (Click to select) S = $ Which of these factors might have caused this change? (Click to select ]