Question 3.4 Assume that the household still maximizes utility given by equation (1) above. Will it leave a strictly positive amount of bequests? If yes, determine this amount. If no, propose a modication of the utility function in equation ( 1) that would make the household leave behind a positive amount of bequests. l Question 3.5 Imagine that the government needs to spend G in period 1. This spending must be paid for by taxing the household. The government can either tax the household in period 1, or borrow the necessary amount through international nancial market at interest rate RG and repay the loan (including interest) by taxing the household in period 2. Assume Ra