The process of periodically adjusting social benefits or wages to account for increases in the cost of living is called

Question

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Indexing is the process of adjusting social benefits or wages to account for increases in the cost of living. This adjustment helps to maintain the purchasing power of the individual receiving the benefit, as inflation can cause prices of goods and services to increase over time. The other options listed are not specifically related to the concept of indexing.

The Process of Periodically Adjusting Social Benefits or Wages to Account