Q1. Assume which Chenyu expects his income to be $50,000 per year until she retires. In addition, he has accumulated $250,000 in wealth. Calculate his annual level of consumption.

a) Derive Chenyu's consumption function in terms of her annual income Y and initial wealth W according to the life-cycle model.

b) Assume which Chenyu expects his income to be $50,000 per year until she retires. In addition, he has accumulated $250,000 in wealth. Calculate his annual level of consumption.

Q2. Take the position which the Federal and/or state government should be able to seize private property and make way for projects which would generate higher tax returns for the community. Explicate it in 2 paragraphs. Be sure to list the title of the article you read and its site.