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9. Assume an economy with 1,000 consumers. Each consumer has income in the current period of 50 units and future income of 60 units and

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9. Assume an economy with 1,000 consumers. Each consumer has income in the current period of 50 units and future income of 60 units and pays a lump-sum tax of 10 units in the cur- rent period and 20 units in the future period. The market real interest rate is 8%. Of the 1.000 consumers, 500 consume 60 units in the future. while 500 consume 20 units in the future. (a) Determine each consumer's current con- sumption and current saving. (b) Determine aggregate private saving, aggre- gate consumption in each period. govern- ment spending in the current and future periods. the current-period government decit. and the quantity of debt issued by the govenunent in the current period. (c) Suppose that current taxes increase to 15 units for each consumer. Repeat pans (a) and (b) and explain your results

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