Question

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?
A) 1
B) 1 and 3
C) 1, 2, and 3
D) 2 and 4

Answer 1

Yes the correct answer was

B) 1 and 3

Thanks

Answer 2

The people harmed the most during periods of unexpected inflation are elderly persons who live on a fixed income and people who are paying on a loan with adjustable interest rates. So 1 and 3 are the correct choices.