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2.1 Introduction to the national economy

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Question 17

A bank raises the interest rate it pays on savings accounts. How is a household most likely to change its behaviour, and why?

[1]
A

Save more, because each pound saved now earns a bigger reward

B

Save less, because a higher rate is a cost charged to savers

C

Save more, because borrowing to buy goods has become cheaper

D

Spend more now, because saving now earns a smaller reward

Markscheme

2.1 Introduction to the national economy Questions

  1. GCSE
  2. /Economics
  3. /2.1 Introduction to the national economy

75 exam-style questions on AQA GCSE Economics 2.1 Introduction to the national economy, covering 2.1.1a What an interest rate is, 2.1.1b Interest rates and consumer decisions, 2.1.1c Interest rates, producer decisions and calculations, 2.1.2a UK government revenue and spending, and 2.1.2b Direct, indirect and progressive taxation. Each one has a worked solution and a mark scheme showing where the marks go.

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