Question 8: (4 marks) Consider an Overlapping Generations economy similar to the one presented in class. In each period Nt individuals are born and each lives for two periods. After two periods each individual is removed from the economy. Suppose the population grows at rate n such that N: = Ithl. In each period the young generation is endowed with ya units of the consumption good (note the t subscript on the endowment). Suppose the endowment grows at the rate a: > 1._ so that yt = ayt_1. The old are endowed with zero units of the consumption good. Individuals care about their consumption when they are young and old and have utility function U(C1,t, cam). If at any point you do not know how to proceed. you can assume that 11 = 1 and (r = 1 for part marks. Do not assume a stationary equilibrium. a) (2 marks) Write down the platmer's resource constraint for period t. b) (2 marks) Draw the plarmer's resom'ce constraint and draw a sample indifference curve depicting the planner's optimal allocation for period t. Be sure to label the figure