The Unanticipated Inflation of the Last Several Decades Benefited Largely

question 5

Multiple Choice

The unanticipated inflation of the last several decades benefited largely

• A)elderly people whose major source of income comes from private pension plans
• B)lending institutions, especially savings and loans
• C)homeowners with fixed mortgage rates
• D)taxpayers
• E)all of the above

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Definitions:

Scarce

A characteristic of resources that are limited in availability, which can lead to competition for their use.

Freely Available

Resources, information, or products that can be accessed or obtained without any payment or restrictions.

Economic Choice

Economic choice involves making decisions on the allocation of scarce resources among competing needs or desires to maximize benefits and utility.

Competitive Behavior

Actions taken by companies aimed at gaining an advantage over their rivals in the market, often through price adjustments, product innovations, and marketing strategies.