Harold and Sue Are Both in Their Seventies

question 100

Multiple Choice

Harold and Sue are both in their seventies. If they are typical of older adults in the United States, based on their gender it is likely that Harold will develop _____ and Sue will develop _____.

• A) arthritis; hypertension
• B) hypertension; arthritis
• C) vision problems; hearing problems
• D) hearing problems; vision problems

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Definitions:

Luxury Tax

A tax imposed on expensive goods which are considered non-essential, aimed at discouraging their purchase or generating government revenue from luxury items.

Elastic Demand

A condition in which the quantity demanded of a good or service greatly changes in response to changes in its price.

Inelastic Supply

A situation where the quantity of a good supplied by producers is relatively insensitive to changes in its price.

Tax Burden

The total amount of taxes that individuals or businesses are required to pay to government entities, often expressed as a percentage of income or profit.