Which of the Following Was Not Given in the Textbook

question 56

Multiple Choice

Which of the following was not given in the textbook as a reason for the increase in the number of senior entrepreneurs?

• A) Seniors tend to be more passionate about new business ideas than middle-aged or younger prospective entrepreneurs.
• B) Many seniors have extensive business experience and other qualities that equip them for an entrepreneurial career.
• C) Growing worries among seniors that they need to earn additional income to pay for future health care services and other expenses
• D) An increasing desire among older workers for more personal fulfillment in their lives
• E) corporate downsizing

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Definitions:

Benefits-Received Principle

A theory in taxation that believes individuals should be taxed based on the level of government services they consume.

Marginal Tax Rates

The rate at which an additional dollar of income is taxed, demonstrating the progressive nature of income taxation.

Average Tax Rates

The ratio of the total amount of taxes paid to the total income, indicating the percentage of income that goes towards taxes.

Regressive Tax

A tax system that takes a smaller percentage of income from individuals as their income increases, often considered less fair to lower-income earners.