How will substitution effect of higher interest rate affect, Microeconomics

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How will substitution effect of higher interest rate affect

Problem

For savers, how will the income effect of a higher interest rate affect current saving? How will the substitution effect of a higher interest rate affect current savings?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: How will substitution effect of higher interest rate affect

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