• Which of the following people would we expect to be hurt by an increase in the rate of inflation from 3 percent to 6 percent? a. A homeowner with a $50,000 fixed rate mortgage on his home. b. A retired person who receives a monthly pension of $500 from her former employer. C. An automobile worker with a cost-of-living provision in his employment contract. d. A wealthy individual who owns corporate bonds that pay her an interest rate of 8 percent per year.

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