Social Security payments:
A. began to be adjusted to 5% above the poverty line in 1987.
B. are not adjusted using COLAs.
C. are now indexed using the PPI.
D. began to be indexed to inflation in 1975.
Answer: D
Economics
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A regulation that specifies the maximum amount of a good or service that may be imported during a specified period of time is a:
A) quota. B) tariff. C) nontariff barrier. D) export quota.
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Engel's Law claims that
a. the percentage increase in quantity demanded for food is less than the percentage increase in income b. food is an inferior good (as economists define inferior good, of course) c. the demand for food is income elastic d. the income elasticity for food is negative e. consumers' demand for food does not increase when the price of food falls
Economics