Exercises Linear equations for the consumption and saving schedule take the general form C=a+bY and S=-a+(1-b)Y, where C, S and Y are consumption. saving and national income respectively (1) Use the given data to develop specific numerical values for the consumption and saving equations. Write the using these values (2)what is the economic meaning of b? what is the economic meaning of(1-b)? 01-08-0801-08-08 1 Exercises • Linear equations for the consumption and saving schedule take the general form C=a + bY and S=-a+(1-b)Y, where C, S and Y are consumption, saving and national income respectively. (1) Use the given data to develop specific numerical values for the consumption and saving equations. Write the using these values. (2) what is the economic meaning of b? what is the economic meaning of (1-b)?