Question 7 9 pts When comparing wealthy (high wealth) individuals to poor (low wealth) individuals, the poor individuals typically have higher: Marginal propensity to consume Disposable income Autonomous consumption Access to credit Question 8 The rate of interest that you are paying on a mortgage loan is 6 percent per year. Inflation is running at 9 percent per year. The real rate of interest that you are paying is therefore: -3% 1.5% 15% 6% Question 9 9 pts Austerity policies are most effective at: lowering government debt decreasing government spending raising taxes stimulating GDP growth Question 10 9 pts The United States has a population of about 333 million and has about 270 million people that are of working age within the population. If 160 million people are employed and 10 million are unemployed, what is the official unemployment rate? Question 15 9 pts Which of the following is a major problem caused by high inflation? High inflation typically leads to high unemployment rates. High inflation makes it harder for borrowers to afford to pay back loans. High inflation causes people to save more, leading to a decline in GDP. High inflation lowers the value of workers' real wages