49. Assume that the inflation rate over a ten-year period is 15% in each year. Which of the following groups is going to be hurt the most from this inflation? A. Banks who make variable interest rate loans. B. Persons who own lots of gold and land. C. Retired persons living on fixed incomes. D. Small business owners who can adjust their product prices.
49. Assume that the inflation rate over a ten-year period is 15% in each year. Which of the following groups is going to be hurt the most from this inflation? A. Banks who make variable interest rate loans. B. Persons who own lots of gold and land. C. Retired persons living on fixed incomes. D. Small business owners who can adjust their product prices.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter13: Measuring The Economy's Performance
Section13.2: Correcting Statistics For Inflation
Problem 1R
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Transcribed Image Text:49. Assume that the inflation rate over a ten-year period is 15% in each year. Which of the following groups is going to be
hurt the most from this inflation?
A. Banks who make variable interest rate loans.
B. Persons who own lots of gold and land.
C. Retired persons living on fixed incomes.
D. Small business owners who can adjust their product prices.
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