4. [6 points] 1 point per question; covers chapter 4 only. 3. A fall in current income causes the lifetime resources to . As a result, current consumption future consumption and private savings A fall in current taxzes causes the lifetime resources to . As a result, current consumption future consumption and private savings The - refers to a desire to have a relatively smooth pattern of consumption over time. A rise in interest rate (1) (increases,/decreases pick one) the opportunity cost of current consumption. Consider 4 consumer that is a borrower. A nise in interest rate (1) {increases/decreases) current consumption according to the SE, and (increases/decreases) current consumption according to the IE. S curve shifts outwards if there is a fallin {provide an example as related to the lecture material)