Which of the Following Statements Is FALSE

question 20

Multiple Choice

Which of the following statements is FALSE?

• A)homeowners with fixed-rate mortgages benefit from unanticipated high inflation
• B)the costs of unanticipated inflation can be ignored, since the gains and losses of induced wealth transfers tend to cancel each other out over the economy as a whole
• C)Social Security beneficiaries are better protected against unanticipated inflation than workers with long-term contracts
• D)at least until 1985, the U.S. government gained from unanticipated inflation at the expense of U.S. taxpayers
• E)workers who received the minimum wage greatly suffered from unanticipated inflation

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Definitions:

Brown Lung

A lung disease caused by inhaling dust from cotton, flax, or hemp processing; also known as byssinosis, it's prevalent in textile workers.

Textile Mills

are facilities equipped with machinery for the production of yarns, fabrics, and other textile products from natural or synthetic fibers.

Nonfarm And Nonfamily Businesses

Entities engaged in commercial, industrial, or professional activities that are not primarily agricultural and are not owned or operated by family members.

Children Under 15

A demographic group defined by individuals who are 14 years old or younger.