At the equilibrium real interest rate in the open-economy macroeconomic model, the amount that people want to save equals the desired quantity of

Any increase in the present value of taxes for the consumer implies

A) an increase in lifetime wealth and an increase in current labor supply. B) an increase in lifetime wealth and a decrease in current labor supply. C) a decrease in lifetime wealth and an increase in current labor supply. D) a decrease in lifetime wealth and a decrease in current labor supply.

In general, demand curves for necessities tend to be price elastic

a. True b. False Indicate whether the statement is true or false