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- 1. Multiple Choice
1. Elderly on a fixed income
2. Renters who live in a rent controlled apartment
3. People who are paying on a loan with adjustable interest rates
4. Banks who are collecting on loans with adjustable interest rates
Who is harmed the MOST during periods of unexpected inflation?
1
1 and 3
1,2, and 3
2 and 4
- 2. Multiple Choice
Inflation is most harmful to
debtors
creditors
wage earners
property owners
- 3. Multiple Choice
Of the following groups, the one hurt MOST by unanticipated inflation is
retirees who live on a fixed income
workers with cost-of-living adjustment contracts.
banks who have made short-term adjustable rate mortgages.
people who have invested savings in variable rate returns.
- 4. Multiple Choice
Inflation that is sudden or unexpected tends to hurt which of these groups of people MOST?
people who have a steady job
people who have borrowed money
people who have loaned money to others
people who have investments in the stock market
- 5. Multiple Choice
Why might students be affected adversely by inflation?
Teachers would lose their jobs.
Students usually work for low wages.
Many students would lose their jobs.
School lunch costs would rise sharply.
- 6. Multiple Choice
Who benefits the MOST during periods of unexpected inflation?
elderly on fixed incomes
renters who live in a rent controlled apartment.
banks who are collecting on loans with fixed interest rates
banks who are collecting on loans with adjustable interest rates
- 7. Multiple Choice
Which of these groups would most likely gain from unanticipated inflation?
individuals who work for minimum wage
retirees who are getting a fixed income pension
farmers who have borrowed money at fixed interest rates
banks who have loaned their excess reserves at fixed interest rates
- 8. Multiple Choice
How does the CPI provide an accurate indication of inflation within a country?
The CPI uses a calculation to indicate how consumers spend more money on inferior goods as income rises.
The CPI involves the calculation of price changes in the purchase of luxury items to indicate inflation.
The CPI measures the average change over time in the selling prices received by domestic producers for their output using start and end dates.
The CPI measures urban household spending on a "market basket" in a calculation to see how the average prices of goods and services have changed over time.
- 9. Multiple Choice
How is inflation measured?
RPI
CPI
RFI
PRI
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