Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 2

Evaluate as accurately as you can how each of the following individuals would be affected by unanticipated inflation of 10 percent per year:
a. A pensioned railroad worker.
b. A department-store clerk.
c. A unionized automobile assembly-line worker.
d. A heavily indebted farmer.
e. A retired business executive whose current income comes entirely from interest on government bonds.
f. The owner of an independent small-town department store.