O-LevelEconomicsMicroeconomic decision makers2281/11 · May/June 2023 · Q121 Mark
A country's central bank raised the rate of interest from 1% to 4% per year. How would this change have affected the amount saved and the cost of borrowing by individuals?
Adecreased, decreased
Bdecreased, increased
Cincreased, decreased
Dincreased, increased
✓ Correct answer
D: increased, increased
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