Question: QUESTION 4 b) Suppose there two workers with identical preferences - Joanne and Anna. Joanne and Anna have the same life cycle wage path in

 QUESTION 4 b) Suppose there two workers with identical preferences -

QUESTION 4 b) Suppose there two workers with identical preferences - Joanne and Anna. Joanne and Anna have the same life cycle wage path in terms of the waged faced every age. Further, they both know what their future wages will be. Leisure and consumption are both normal goods. In a diagram, relate the life cycle path of hours of work between these two workers if Anna receives a one-time, unexpected inheritance when she turns 35 years old. In a diagram, relate the life cycle path of hours of work between the two workers if Anna had always known he would receive (and, in fact, does receive) a one-time inheritance at the age of 35

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