No. It's not Chrono Trigger lol. Different endings would be kinda kool, but this game is complete with out it. And since there are no alternate endings, answering questions differently does not effect the game. And if you answer the question "wrong" the NPC will ask again more forcefully and make you answer it "correctly".
Ex. Village Elder/King: Where is my boy? Do you know what happened to him? *Choose "No"* Elder King: "YOU'RE LYING!! I CAN SEE IT IN YOUR EYES! TELL ME WHAT HAPPENED TO MY BOY!!" *Force "Yes"*
There are a few "choices" you can make. For example, A girl loses her 10g and cries her mom will spank her. She cries "Have you seen my gold?!" (It's 10 feet away) You can either put it in your pocket or give it back. It's just 10g... I guess it's a choice based on morality.
The reason I brought this up in the first place was that I just started playing this game from the beginning a few days ago (I played through about 26 hours a few years ago but I got stuck without a necessary shard, I guess this play through I'll have to remember to check every single pot and bookcase and drawer etc..)
...Anyway I was in Estard castle talking to one of the old guys with canes who asked "Do you believe in fortune telling?" and I answered "Yes" and he said "One day you will bring peace to the world... Hmm that's funny this world is already pretty peaceful, maybe I'm not as good at fortune telling as I thought."
Then I had to turn the game off and the next time I played I talked to the same guy and this time i answered "No" and he said something else and I talked to him again to hear his other response because I liked that one better but when I answered yes this time he said something different.