6. Answer both parts (a) and (b) of this question. (a) [9 marks] Explain Keynes' three conjectures about the consumption function. Describe the evidence that is consistent with these conjectures and the evidence that is inconsistent with them. (b) [16 marks] Compare and contrast the Life Cycle Hypothesis with the Permanent Income Hypothesis. Which of these two hypotheses do you think deals more satisfactorily with the well known \"consumption puzzle\"? Explain