单选题
Which of the following would be most likely to have gains from an unexpected increase in the inflation rate? A. Holders of floating rate debt securities. B. The owner of a shopping mall. C. A home owner with a fixed-rate mortgage.
【正确答案】
C
【答案解析】A new home owner with a fixed-rate mortgage will likely experience an increase in real wealth from unexpectedly higher inflation as the real value of the future mortgage payments is decreased by inflation and the value of the home is likely increased in nominal terms. Real assets, such as shopping malls and variable rate debt securities should approximately retain their real value when inflation rises. Workers, to the extent they have fixed money wage contracts, will lose wealth in real terms (and employers will gain) when inflation is higher than anticipated.