Which of the following would constitute empirical evidence that higher interest rates encourage more saving?
A) A mathematical model in which there was a positive relationship between the interest rate and the saving rate
B) A mathematical model in which there was a negative relationship between the interest rate and the saving rate
C) A cross-country study showing a positive relationship between the interest rate and the saving rate
D) A cross-country study showing a negative relationship between the interest rate and the saving rate
Correct Answer:
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