MA In Economics) City College of New York. Midterm. Fall 2020 1. Adair Turner, the former chairman of the UK Financial Services Authority, has called for what is named "helicopter drops": a direct cash transfers to consumers. a. Explain how this measure could affect consumption under these models: Keynesian, Friedman and Hall's models. Consider that the measure would be widely announced and anticipated as it would have to be approved by the Parliament. b. If the direct cash transfer to consumers must be financed through fiscal deficits. Use the Ricardian-Barro's equivalence to state the potential consequences in the economy. Explain thoroughly