Increased Consumption, Such as the Burning of Coal and Oil

question 41

Multiple Choice

Increased consumption, such as the burning of coal and oil to generate electricity and heat buildings, has contributed to

• A) global warming.
• B) the advance of polar icecaps.
• C) earthquakes becoming more common.
• D) increased birth rates in industrialized nations.

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Definitions:

Global Consumption Smoothing

An economic principle that suggests individuals can optimize their lifetime well-being by spreading consumption over their lifetime, influencing savings and investments.

Tax Shelters

Tax Shelters are investment options or financial strategies used to minimize or avoid taxes, taking advantage of legal provisions to reduce tax liabilities.

Roth Retirement Plan

A retirement savings plan allowing a person to contribute after-tax income, with withdrawals being tax-free under certain conditions.

Tax Withdrawals

Payments or deductions from earnings or income which are removed by the government as taxation.