Question: The world lasts T > 2 periods. A consumer has income w t in any period t. The real interest rate is r 0, and

The world lasts T > 2 periods. A consumer has income w_tin any period t. The real interest rate is r 0, and the consumer can borrow and lend as much as he/she wants at this rate. The consumer consumes c_tin each period and has utility function U(c).

a. Write down the consumer's budget constraint.

b. Write down the consumer's utility maximization problem.

The world lasts T > 2 periods. A consumer has income wtin

any period t. The real interest rate is r 0, and the

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