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Nuetrik [128]
3 years ago
8

8. Problems and Applications Q8 Social Security benefits are increased each year in proportion to the increase in the CPI, even

though most economists believe that the CPI overstates actual inflation. True or False: If the elderly consume the same market basket as other people, then Social Security would provide an increase in their standard of living.
Business
1 answer:
qaws [65]3 years ago
5 0

Answer:

Social Security benefits are increased each year in proportion to the increase in the CPI, even though most economists believe that the CPI overstates actual inflation.

True

Explanation:

We realize that the elderly who receive Social Security do not consume the same market basket of goods and services as other people in the economy.  Assuming that the elderly do consume the same market basket as others, Social Security would provide the elderly with an improved standard of living each year since the Consumer Price Index (CPI), which represents a weighted average of a basket of goods and services, overstates inflation and Social Security payments are tied to the CPI.

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Suppose that the adult population in the country of Atlantis is 140 million. If 90 million people are employed and 10 million ar
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Let's assume that Atlantis has 140 million adult residents. If there are 90 million employed people and 10 million unemployed people, that leaves 40 million people out of the labor force.

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1 year ago
After a strong hurricane lashed the Caribbean last year, many impacted countries were forced to borrow money for repairs. Which
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Answer:

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