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Figure 1 45 Line 300 270 180 180 270 300 1. Refer to Figure 1. What is the level of real GDP, Y if the
Figure 1 45" Line 300 270 180 180 270 300 1. Refer to Figure 1. What is the level of real GDP, Y if the economy uses consumption C, only? (1 mark) 2. Refer to Figure 1. Find an equation for the consumption function, C = a + b . Y where (a, b) are constants to be found. (1 mark) 3. Refer to Figure 1. Find the multiplier and the level of private saving at Y = 500. (1 mark)
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