Suppose a borrower and a lender enter into an agreement for a car loan, which lasts for one year. The nominal interest rate (i) is 11%. Both the borrower and the lender expect inflation in one year to be 4% ( =4%). Scenario I. Suppose the next year, when the borrower repays the loan, the actual inflation ( )turns out to be 6%. Expected inflation a year ago was 4%. Actual inflation () is (greater than/lower than) expected inflation ( ) The ex-ante real interest rates is %. The ex-post real interest rates is_ %. Conclusion from scenario I: When actual inflation is greater than expected inflation, ex-ante real interest rate is than/lower than) the ex-post real interest rate, which means that borrowers are made off/better off) and lenders are made Nominal interest rates should (worse off/better off). (rise/fall) according to the Fisher effect. (greater _(worse