=+a. In order to analyze the impact of different proposals, begin with a graph that has “consumption now” on the horizontal and “retirement consumption” on the vertical axes. For simplicity, suppose we can ignore periods between now and retirement. Consider a worker and his or her choice set over these two “goods.” This worker earns some current income I and is currently promised a retirement income R from the government. Illustrate how this establishes an

“endowment point” in your graph. Then, assuming an interest rate r over the period between now and retirement, draw this worker’s choice set.