If the rate of inflation in a given time period turns out to be lower than lenders and borrowers anticipated, then the effect will be:
a. a redistribution of wealth from borrowers to lenders.
b. a redistribution of wealth from lenders to borrowers.
c. a net loss in purchasing power for lenders relative to borrowers.
d. a net gain in purchasing power for borrowers relative to lenders.
a
Economics
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If a monopolist has an output price of $10, marginal revenue equal to $4, and faces a fixed wage rate of $7, then the monopolist should hire labor until the marginal revenue product is equal to
A) $10. B) $4. C) $7. D) $14.
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One means of enforcing a quota is to require importers to ________.
A. obtain a license B. pay a sales tax C. obtain a sales permit D. pay an import tax
Economics