Questions: Why are retired people hurt by inflation? A. They're afraid of change. B. They live beyond their means. C. Since they're on fixed incomes, their income doesn't rise to meet higher prices. D. Retired people often buy products that are especially likely to experience inflation.

Why are retired people hurt by inflation? A. They're afraid of change. B. They live beyond their means. C. Since they're on fixed incomes, their income doesn't rise to meet higher prices. D. Retired people often buy products that are especially likely to experience inflation.
Transcript text: Why are retired people hurt by inflation? A. They're afraid of change. B. They live beyond their means. C. Since they're on fixed incomes, their income doesn't rise to meet higher prices. D. Retired people often buy products that are especially likely to experience inflation.
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Solution

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Answer

The answer is C. Since they're on fixed incomes, their income doesn't rise to meet higher prices.

Explanation
Option A: They're afraid of change.

This option is not directly related to the economic impact of inflation. While some retired individuals may be resistant to change, this does not explain how inflation specifically affects their financial situation.

Option B: They live beyond their means.

This option suggests a personal financial management issue rather than a systemic economic problem. While some individuals may live beyond their means, it is not a general reason why retired people are hurt by inflation.

Option C: Since they're on fixed incomes, their income doesn't rise to meet higher prices.

This is the correct answer. Many retired individuals rely on fixed incomes from pensions or savings, which do not automatically adjust for inflation. As the cost of living increases, their purchasing power decreases, making it harder to afford goods and services.

Option D: Retired people often buy products that are especially likely to experience inflation.

While certain products may experience higher inflation rates, this is not a comprehensive explanation for why retired people are generally hurt by inflation. The primary issue is the fixed nature of their income.

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