Practice Quiz

CLEP Economics Exam Prep

Category - Economics

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Which of the following groups would most likely be hurt financially by unexpected inflation?
  1. People who are borrowing money at fixed rates of interest
  2. Purchasers of land who are speculating on price increases
  3. Retirees who are living on a fixed income
  4. Workers with a cost-of-living adjustment clause in their contracts
Explanation
Answer: C - Retirees who are living on a fixed income would most likely be hurt financially by unexpected inflation.
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