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
Economics
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Cost-push inflation occurs
A) when the aggregate supply curve shifts to the left, while aggregate demand remains stable. B) when the aggregate demand curve shifts to the left, while aggregate supply remains stable. C) when the aggregate supply curve shifts to the right, while aggregate demand remains stable. D) when the aggregate demand curve shifts to the right, while aggregate supply remains stable.
Economics
The rate of growth of output per worker in the United States between 1985 and 2014 was approximately equal to which of the following?
A) 1.7% B) 3.8% C) 4.8% D) 5.8%
Economics