Question 1- Consider an economy with a growing population at n in which each person is endowed with y unit of endowment when young and nothing when old. Let Mr = 7, Mn for every period t, where z is positive and great than 1. The new printed at money is distributed equally among the old people in transfers at. Suppose the utility equals U(c1't,czrt+1) = 0. 5Inc1't + (:2 Inc-2,154.1 ,where In c represents the natural logarithm of 0. 9 Find and explain the rate of return of money in a monetary equilibrium b. Compute the optimal solution of an individual young's consumption prole and real money demand. 0. Prove that the monetary equilibrium does not maximize the utility of the future generations. Hint: compare the monetary equilibrium with the golden allocation