1. Write down the equations for a competitive equilibrium in a representative agent economy and describe what each one represents. 266 2. How do changes in rt provide information about the scarcity of resources today relative to tomorrow? 3. Graphically derive the IS curve. 4. Graphically depict the equilibrium in the IS - Y s graph. 5. Show graphically the effect of an increase in Yt 1 on consumption and the interest rate. Clearly explain the intuition