Problem
This chapter focused on how interest rates affect savers. If an individual is a net debtor (that is, she owes money), what is the income effect of an increase in interest rates? Will an increase in the interest rates that she has to pay induce her to borrow more or borrow less?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.