During a period of deflation,
A. People on fixed incomes are better off.
B. People who hold cash are worse off.
C. The price level rises.
D. Lenders are worse off.
Answer: A
Economics
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If the amount you owe on your house is less than the price of the house, you have
A) positive equity in your house. B) an adjustable-rate mortgage on your house. C) negative equity in your house. D) a reverse mortgage on your house.
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