In the two-period model, suppose a household's income in the first period is $40,000, income in the second period is $50,000, and the real interest rate is 25 percent. By how much would the household's maximum spending in the first period increase if income in the second period increased to 60,000?
A. $6,000
B. $8,000
C. $10,000
D. $12,000
Answer: B
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