Question

What is inflation?(1 point) Responses

When prices of goods and services go up
When prices of goods and services go down
When the government increases taxes
When people start saving more money

Answer 1

[AI-generated answer — Bot GPT 3.5]

When prices of goods and services go up.

Answer 2

Question What are interest rates?(1 point) Responses The amount of money you earn from your job The amount of money you earn from your job The amount of money you pay to borrow money The amount of money you pay to borrow money The amount of money you save in a bank account The amount of money you save in a bank account The amount of money you spend on goods and services

Answer 3

[AI-generated answer — Bot GPT 3.5]

The amount of money you pay to borrow money.

Answer 4

Which of the following is a likely result of an increase in interest rates?(1 point) Responses People are more likely to save money. People are more likely to save money. Banks are more likely to lend money. Banks are more likely to lend money. Companies are more likely to increase their spending. Companies are more likely to increase their spending. Houses and cars become more affordable.

Answer 5

[AI-generated answer — Bot GPT 3.5]

People are more likely to save money.