What is the effect of a rise in interest rates on the Marginal Efficiency of Capital (MEC) schedule?

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Tends to decrease the amount of savingsUsually causes a depreciation of the currency's external valueCauses the MEC curve to shiftResults in movement along the existing MEC curve

Explanation

An increase in interest rates influences investment decisions by altering the expected returns, which causes the Marginal Efficiency of Capital (MEC) schedule to shift. This reflects a change in the profitability of new investments, rather than just movement along the curve. Therefore, the correct effect is a shift in the MEC schedule.