i1. 12, Explain one harm associated with unexpected inflation that is nof associated with expected inflation. Then explain one harm associated with both expected and unexpected inflation. Explain whether the following statements are true, false, or uncertain. a. "Inflation hurts borrowers and helps lenders, because borrowers must pay a higher rate of interest." CHAPTER 17 MONEY GROWTH AND INFLATION 383 b. "If prices change in a way that leaves the overall price level unchanged, then no one is made better or worse off." c. "Inflation does not reduce the purchasing power of most workers."
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