An unanticipated increase in inflation is a problem since
A. gains and losses from real wealth transfers cannot be easily predicted
B. higher inflation always means lower growth in real GDP
C. it will lead to a decrease in nominal wages
D. households who hold fixed dollar assets will experience a higher real rate of return
E. none of the above
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An unanticipated increase in inflation will lead to a redistribution of wealth but
A. people who hold liquid assets will not suffer any losses
B. will not benefit borrowers in any way
C. will not lead to a change in the real wage rate
D. will not lead to a change in real interest rates
E. none of the above
The redistribution effect that arises from an unanticipated increase in inflation will affect
A. insurance contracts
B. cash holdings
C. people who own fixed rate bonds
D. all of the above
E. only B) and C)
The real return on a bond that pays a fixed interest is equal to
A. the nominal interest rate plus the rate of inflation
B. the nominal interest rate divided by the rate of inflation
C. the nominal interest rate minus the rate of inflation
D. the nominal interest rate times the rate of inflation
E. the interest rate that is stated on the bond
When considering the effects of widespread wage indexing
A. one has to distinguish between demand shocks and supply shocks
B. one always comes to the conclusion that they are ill-suited to protect against the loss of purchasing power
C. one quickly realizes the benefits arising from less real wage rate rigidity
D. one realizes that it is very hard to tie nominal wages to a specific price index
E. none of the above
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