31 A reason we may expect the Federal Reserve to start raising interest rates during the peak stage of the economic cycle is

a.The risk of accelerating inflation

b.The elevated level of unemployment

c.The US Government request to the Federal Reserve

d.The low consumer spending

32 For an economy experiencing deflation we may observe that

a.GDP growth is strong

b.GDP is declining

c.People with preexisting loans benefit

d.All of the above