Suppose that inflation in Australian was expected to equal 6 per cent in 2015, but prices rose by only 3 per cent. How would this unexpectedly low inflation rate help or hurt each of the following?
a. The federal government
b. A homeowner with a fixed-rate mortgage
c. A worker with a 5-year fixed-term wage contract
d. A casual worker who has no labour contract
e. A private school that has invested some of its endowment in government bonds.