If Inflation Is Much Higher Than Originally Anticipated,_____ Are Better

question 135

Multiple Choice

If inflation is much higher than originally anticipated,_____ are better off and _____ are worse off.

• A)lenders who extended loans at fixed interest rates;people who borrowed at fixed interest rates
• B)people who borrowed at fixed interest rates;banks that extended loans at fixed interest rates
• C)retired people living on a fixed income;people who had borrowed fixed interest rate loans
• D)people who deposited their savings at fixed interest rates;banks that accepted deposits at fixed interest rates
• E)oil refiners who signed labor contracts agreeing to pay their workers the cost-of-living wage;workers who receive that cost-of-living wage

Recognize the differences between the markets for "farm products" and "food products".

Analyze the effects of bumper crops and poor crops on farm incomes and prices.

Understand the role of international factors, such as trade relations and the value of the dollar, on U.S. agriculture.

Identify the long-term trends in U.S. agriculture, including changes in farm employment, farm size, and the contribution of agriculture to GDP.

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Definitions:

Density

A measure of mass per unit volume of a substance, commonly expressed in grams per cubic centimeter for solids and liquids, and kilograms per cubic meter for gases.

Volume

The amount of space occupied by an object or substance, often measured in liters, cubic meters, or gallons.

Material

Any substance or matter from which something can be made or constructed.

Density

The mass per unit volume of a substance, often measured in grams per cubic centimeter (g/cm^3) or kilograms per cubic meter (kg/m^3).