The greatest sufferer during inflation is
Question and options
The greatest sufferer during inflation is
- Worker
- Industrialist
- Person with fixed income
- Businessman
Answer and explanation
Correct answer: C - Person with fixed income
Inflation reduces the purchasing power of money, and those whose incomes are fixed in money terms, such as pensioners and people on fixed salaries or interest, cannot raise their earnings as prices rise. Industrialists and businessmen often gain from rising prices, and workers' wages tend to be revised over time.
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CUSAT CAT Five-Year LL.B.
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