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of the following describes a situation in which the person is hurt by inflation?

ID: 1127762 • Letter: O

Question

of the following describes a situation in which the person is hurt by inflation? lends money during a period when inflation is over-predicted 27) Which person who borrows money during a period when inflation is under-predicted B) A person C) A person paid a fixed income during an inflationary periou D) A retiree whose pension is adjusted for inflation 28) Demand pull inflation level to increase: decrease Infation caused by increase in demand) typically causes the price and GDP to in the short run. B) increase; decrease C) decrease; decrease D) decrease; increase - 29) The nominal interest rate minus t he expected rate of inflation is known as the A) discount rate 1 B) real rate of interest C) real rate of interest D) prime lending rate ( E) federal funds rate p Suppose that the actual inflation rate was higher than the expected rate of inflation this year. This would result in 30) A) gains for lenders at a fixed rate of interest B) losses for borrowers at a fixed rate of interest C) losses for both borrowers and lenders at a fixed rate of interest D) benefits for borrowers at a fixed rate of interest E) both A and B Use the information below for questions 31-33 antity in unit price in unit price in Bar of soap Big Mac Pair of Socks 10 20 30 $1 S1 $1 $1 $2 $3 31) The CPI of the current Year is equal to? A) CP-100 B) CPI=233 C) CPI=322 D) CPI-43 Assuming that the market basket in the table above is also that nation's producti Answer the following two questions: 32) The real GDP in the current year is equal to A) S6 B) $60 C) S100 D) $140

Explanation / Answer

27. C

Explanation: A person having a fixed income during an inflationary period will experience his/her income fall. Because of the inflation, the purchasing power of the fixed income will fall. Therefore, the person will be hurt by the inflation.

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