Multiple Choice
Assume that there is a fixed rate of interest on contracts for borrowers and lenders. If unanticipated inflation occurs in the economy, then
A) both lenders and borrowers benefit.
B) both lenders and borrowers are hurt.
C) borrowers are hurt, but lenders benefit.
D) lenders are hurt, but borrowers benefit.
Correct Answer:
Verified
Correct Answer:
Verified
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