Macroeconomics MCQ Macroeconomics Chapter 8 Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

Macroeconomics Chapter 8

Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

A. lost value over time, because the payments were not adjusted for inflation.

B. received a fixed amount that caused their real income to decline.

C. grew poorer over time, because the payments were nominal amounts.

D. All of these statements are true.

Answer: A

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Macroeconomics MCQ

Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

Learn More :

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