The velocity of circulation is the number of times per year a dollar is spent

David Card and Alan Krueger conducted a study of fast-food restaurants in New Jersey and Pennsylvania. The study found that

A) the earned income tax credit is more effective in raising the incomes of low-skilled workers than increases in the minimum wage. B) increases in the minimum wage had a very small impact on employment. C) there was a large reduction in employment of low-skilled workers when the minimum wage was raised in these states. D) increases in the prices of food have a greater effect on wage increases in New Jersey than in Pennsylvania.

Indexing Social Security payments:

A. no longer requires a concerted effort on the part of Congress to maintain their real value. B. still requires a concerted effort on the part of Congress to vote the amount of increase. C. no longer requires a concerted effort on the part of Congress to maintain their nominal value. D. still requires a concerted effort on the part of Congress to convert them to their nominal amounts.