Social Security payments were not indexed to adjust for inflation until:
A. 1940.
B. 1975.
C. 1990.
D. 1968.
Answer: B
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When the nominal price of a good increases over time, must its real price also increase?
What will be an ideal response?
If all prices rise by 5 percent and money income remains constant, the new budget line will have
A) a steeper slope. B) a flatter slope. C) a positive slope. D) the same slope.
Holding other things constant, if the Japanese Yen, appreciates, it makes the Japanese products
a. Less attractive to US customers b. More attractive to US customers c. Neither more nor less attractive to US customers d. None of the above
Under the gold standard, if a country had a deficit in its balance of payments, it would have to:
A. sell gold in order to keep the value of its currency from rising. B. buy gold in order to keep the value of its currency from rising. C. sell gold in order to keep the value of its currency from falling. D. buy gold in order to keep the value of its currency from falling.