It Is Predicted That, by 2025, Over 18% of the Population

question 73

True/False

It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.

---

Definitions:

Elastic

Describes a situation in economics where the supply or demand for a good or service is sensitive to changes in price. In other words, a small change in price results in a larger change in quantity demanded or supplied.

Tax Burden

The measure of the total amount of taxes that an individual or business must pay, relative to their income or profit.

Yachts

Luxury vessels used for personal or recreational purposes, often considered a symbol of wealth and luxury.

Rent Controls

Government-imposed limits on the rent that landlords can charge tenants, intended to keep housing affordable.