At the Beginning of 2013,Joey Planned to Buy a New

question 184

Multiple Choice

At the beginning of 2013,Joey planned to buy a new iPhone,LCD TV,and motorcycle by borrowing money.Joey already owes $25,000 on other loans.He also planned to buy new clothing and DVDs out of current income.An increase in interest rates,during 2013,will most likely

• A)cause Joey to decide to borrow less money,but not change what he planned to spend on goods purchased with current income.
• B)cause Joey to decide to borrow more money and to spend more on goods purchased with current income.
• C)cause Joey to decide to borrow more money,but not change what he planned to spend on goods purchased with current income.
• D)cause Joey to decide to borrow less money and to spend less on goods purchased with current income.

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