Tina Eckstrom and her husband bought a deferred annuity in 1954 that started paying them $700 a month in retirement benefits in 1994 . During the 40 years period, the price level rose 3.2 percent per year. Since 1994, the price level has risen 3.0 percent per year. They, along with millions of other people who live on fixed incomes, are examples of
a. those who are responsible for inflation
b. people who gain from inflation
c. people who lose from inflation
d. the paradox of thrift
e. underemployed persons
C
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Marginal cost is defined as
a. ?Q/?TC b. TC /Q c. ?TC/?Q d. Q/TC
Assume that there is an increased demand in the United States for European wines. If all other factors are held constant, this change will result in
A) an increase in the exchange rate for euros. B) an appreciation of the dollar. C) a movement along the demand curve for euros. D) a decrease in the value of the euro.
Average weekly hours in manufacturing is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.
A decrease in the price of a resource would cause
a. producers to substitute other inputs for the resource. b. the cost of products made from the resource to fall. c. producers to use more of the resource. d. none of the above. e. both b and c above.