Question
In: Economics
The Wall Street Journal reports on a SSA cost-of-living adjustment (COLA) whereby “Americans receiving Social Security...
The Wall Street Journal reports on a SSA cost-of-living adjustment (COLA) whereby “Americans receiving Social Security will see a 1.3% increase in benefits”. If Social Security recipients continue to receive an annual 1.3% increase in benefits, approximately how long will it take for their benefits to double?
- A. Half of a year.
- B. Half of a decade.
- C. A decade.
- D. Half of a century.
- E. Without knowing the amount of the payment, the question is unanswerable.
Solutions
Expert Solution
QUESTION
The Wall Street Journal reports on a SSA cost-of-living adjustment (COLA) whereby “Americans receiving Social Security will see a 1.3% increase in benefits”. If Social Security recipients continue to receive an annual 1.3% increase in benefits, approximately how long will it take for their benefits to double?
BY reading this statement here right option is (E). Without knowing the amount of the payment, the question is unanswerable.
how ?
because in question clearly given that Americans receiving Social Security will see a 1.3% increase in benefits” here only the precentage of profit given but ot of how much total amount of that is not given .
and in next line question asked. If Social Security recipients continue to receive an annual 1.3% increase in benefits, approximately how long will it take for their benefits to double ?
again out of how much final amount can not be given ,
thus it can not be answerable without knowing total amount and option E CORRECT ONE
Rahul Sunny answered 2 years agoRelated Solutions
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