Consider Gaaldine. a similarly ctional country which has no plans to cut off the rest of the world. Their utility is 00 Z .5\" log Q 5:0 Where ,8 = 1 / 1.04. The interest rate is 4 percent. so 1 + r = 1.04. Output is given by (J; = 1.02t i.e. initial output is 1, and it grows at 2 percent. per year. The initial net international investment position of Gaaldine is 0. Their perperiod budget constraint is at\" : (1 | 7")(15 + (1 + r).r.t Where y: : It + Ct They must obey the transversaility condition liniH00 (1:3,). = 0. . \"That is the present discounted value of output of Gaaldine? . W hat is the growth rate of consumption of Gaaldine'? (Hint: solve for the Euler equation) . W hat is the present discounted value of consumption. as a multiple of co? , . Solve for (:0. . W hat is the current account in periods t : 0. 1. 2? . W hat is the net international investment position in t : 0, 1, 2