The periodic adjustment of benefits or wages that takes into account the increased cost of living is called: indexing. Why have Americans typically been apprehensive about government efforts to reform health care? They fear reform will be too costly and will jeopardize current health care arrangements.



Answer :

The periodic adjustment of benefits or wages that takes into account the increased cost of living is known as: indexing.

Wages are defined as the amount of money earned by working for a specific amount of time. The payment made in wages system is periodic. It can be on a daily basis or on weekly basis. Wages can be of various types: minimum wage, prevailing wage, and yearly bonuses, etc.

Indexing is the process of keeping a measure of the market value of any property or company, etc. It can be considered as a benchmark indicator through which economic data like inflation, unemployment, gross domestic product (GDP) growth, etc. can be tracked down.

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