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Because of global warming, Canadians anticipate having larger future incomes. How will this affect the amount of savings and the interest rate in Canada today?
Because of global warming, Canadians anticipate having larger future incomes. How will this affect the amount of savings and the interest rate in Canada today?
a. Savings will rise and the interest rate will rise
b. Savings will rise and the interest rate will fall
c. Savings will fall and the interest rate will rise
d. Savings will fall and the interest rate will fall
e. Changes in the future income will have no effect on today's interest rate.
Please explain your answer.
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