Over the Past 70 Years, What Was the Approximate Average

question 180

Multiple Choice

Over the past 70 years, what was the approximate average annual inflation rate?

• A) 1 percent
• B) 4 percent
• C) 8 percent
• D) 10 percent

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Definitions:

Government Purchases

Expenditures made by the government for goods and services that directly satisfy public needs or initiate government activities.

Social Security

A government program that provides pensions, disability insurance, and benefits to retirees, their dependents, and disabled workers.

Welfare Benefits

Government-provided assistance programs aimed at supporting the well-being of individuals and families in need.

Grants

These are non-repayable funds or products disbursed or given by one party, often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual.