If prices rise,then persons living on fixed incomes will

Question

Quizplus · Accepted Answer

When prices rise, the cost of goods and services increase, which means that people living on fixed incomes will see their real incomes fall in terms of their buying power. Additionally, the purchasing power of their savings will decrease, as they will be able to buy fewer goods and services with the same amount of money saved. This can lead to needing to spend more to maintain their standard of living. Therefore, all of the above choices are true.

If Prices Rise,then Persons Living on Fixed Incomes Will