a) First, define the competitive equilibrium for the two-periods model (consumer has endowments in both periods, the government can tax or borrow, there is no firm): b) Suppose the government in this economy proposes two different sets of taxation plans: i. Finance government expenditure in the first period by borrowing only, that is t = 0, B = G and t' = G(1 + r)+G"; ii. Current tax t equals to 25% of today's government expenditure and borrow to finance the rest, such that t = 0.25G and B = 0.75G, t' = 0.25G(1+r) + G'. Which one would the consumers prefer, or are they indifferent between the two plans? Explain your result