Nothing is missing this is the entire question. please answer it.

1. Suppose Jack is indifferent between $500 today and $600 in one month. In addition, he is indifferent between $500 in six months and $600 in seven months. a. Can you determine if his preferences are consistent with hyperbolic discounting or exponential discounting? Briefly explain. (8 points) b. If you answered exponential discounting to part 'a', what would have to change for it to be hyperbolic discounting? If you answered hyperbolic discounting to part 'a', how would it have to change to be exponential discounting? Briefly explain. (8 points)