Suppose that, in year 1, the government cuts current, lump-sum taxes and runs a budget deficit. Assume that the real public debt remains constant in future years. Also, no changes occur in government purchases of goods and services, G, or in real transfers, V/P. Analyze the income effect from the government's tax cut. How does this effect depend on the following:

a. finite lifetimes?

b. the existence of childless persons?

c. uncertainty about who will pay future taxes?

d. the possibility that the government will print more money in the future rather

than levying future taxes?

e. the imperfection of private credit markets?