If the Inflation Rate in an Economy Is Higher Than

question 30

Multiple Choice

If the inflation rate in an economy is higher than expected,which of the following groups in the society would be most likely to gain?

• A)Borrowers
• B)Lenders
• C)Persons holding large amounts of money
• D)Persons on fixed incomes
• E)Workers under contract without a cost of living adjustment

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Definitions:

General Manager

An executive responsible for overseeing the daily operations and overall management of a business or organization.

Statute of Frauds

A legal principle that requires certain types of contracts, including those for the sale of land or goods over a certain value, to be in writing to be enforceable.

Interest in Land

A legal right or claim on property, entitling the holder to a specific interest or portion of the property such as ownership, use, or occupancy.

Executor

A person named in a will or appointed by a court, who is responsible for ensuring that a deceased person's estate is distributed according to the will and laws.