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Part II. Application Questions (20 marks) 1a) Suppose that the consumption function is, C = 30 +0.2Y what does the slope and intercept of

Part II. Application Questions (20 marks) 1a) Suppose that the consumption function is, C = 30 +0.2Y what does the slope and intercept of the line tell us about the relationship between consumption and national income? (5 marks)

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