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(a) With unexpected inflation, those who hold a mortgage with a set (fixed) interest rate will be . (b) When expansionary monetary policy leads to
(a) With unexpected inflation, those who hold a mortgage with a set (fixed) interest rate will be . (b) When expansionary monetary policy leads to unexpected inflation, short-run GDP will with unexpected inflation. (c) When expansionary monetary policy leads to unexpected inflation, long-run GDP will with unexpected inflation
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