Please answer question nine.

Thank you.

C' A Parent's Consumption Parent's Consumption Uo Y' C' B' B Y'o Uo U1 C Y1 Yo C1 Co Child's Consumption Child's Consumption (a) (b)9. As gently alluded to in one of the questions above, the analysis in this assignment assumes that there are no transaction looses associated with the extraction of the Social Security and Medicare taxes in society. Is this likely to be the case? [Your answer here should be either yes or no, but not both.]