Question: In the case where current and future consumption are perfect complements, an increase in the real interest rate Question 3 options: involves a substitution effect

In the case where current and future consumption are perfect complements, an increase in the real interest rate
Question 3 options:
involves a substitution effect only for lenders.
involves only income effects.
is relevant only for borrowers.
involves only substitution effects.
has ambiguous effects depending on whether the substitution or income effects dominate.

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