An anticipated rise in taxes in the two-period model. The graph below shows the effects of an increase in future taxes (t'; t₁ <1'2). Note that the initial optimal consumption bundle is represented by point A. (1+r)we₁ y₁-t₁ (1 + r)wez y₁-t₂ c₁ C₂ E₁ y-t $₂0 S₁ <0 C1 Which of the following statements is incorrect? The consumer is a borrower after the change in taxes. 1₂ 1₁ -(1+r) -(1+r) ( we₂ we₁ The consumer was a borrower before the change taxes. The consumer was a lender before the change in taxes. The consumer is a lender after the change taxes.

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