The periodic adjustment of benefits or wages that takes into account the increased cost of living is called ________.

Question

Quizplus · Accepted Answer

Indexing refers to adjusting benefits or wages based on the increased cost of living, allowing individuals to maintain their purchasing power. Means testing is a process of evaluating an individual's income or assets to determine their eligibility for government assistance. Graphing and economic tabulating are not related to adjusting benefits or wages for cost of living increases. Inflation refers to a general increase in prices, which can contribute to the need for indexing.

The Periodic Adjustment of Benefits or Wages That Takes into Account