Which of the following statements is true?
A) Inflation hurts all groups in society equally.
B) The money incomes of fixed income earners do not keep pace with inflation.
C) People working under long-term contracts benefit when the inflation rate exceeds their contracted wage increases.
D) All of the above.

Question

Quizplus · Accepted Answer

Fixed income earners, such as retirees living on a fixed pension, do not see their income adjust with rising prices, making it harder for them to maintain their purchasing power during periods of inflation.

Which of the Following Statements Is True