Consider the following macroeconomic model: C = 400 + 0.6Y, + 0.35Y,_1, I, = 0.15Y,-1 , Y, = C + I,, Yo = 7000 a. Find the time path for nominal income Y, as function of t only b. Based on your answer to a, is Y, dynamically stable? In other words, will it converge over time to its long run equilibrium value? c. Now suppose that the consumption function shifts to to C, = 400 + 0.5Y, + 0.25Y,_, while investment remains unchanged. Solve for the time path of nominal income and comment on its dynamic stability