Answer to Question #117788 in Macroeconomics for Karan Bhanot

Question #117788
John secured the bank's $2,000 mortgage to buy a car. After the contract was written it turned out that inflation in the economy was lower than expected. Who gained from this development and who lost? Explain
1
Expert's answer
2020-05-25T09:39:34-0400

Due to inflation in economy John gained and bank lost as the rate decreases so john need to pay less money


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS