1. Why do we typically consider economies where the endowment when young is greater than the endowment when old? Consider a model economy as described in Module 1, but assume that workers are endowed with y units of the consumption good when old and 0 units when young. Assume the population is constant over time, i.e. N_t = N_t1 = N for all t 0

(D) Assume the planner wants to implement a stationary allocation. Draw a figure that depicts the solution to the planner's problem using the feasible set and sample indifference curves that satisfy the properties discussed in Lecture 1. PLEASE DRAW FIGURE, DO NOT EXPLAIN. THANK YOU