Which of the Following Is True of the Baby Boomers

question 103

Multiple Choice

Which of the following is true of the baby boomers?

• A) They tend to see themselves as far older than they actually are.
• B) They represent a rapidly shrinking market for new housing and home remodeling.
• C) They are long past their peak earning and spending years.
• D) They control an estimated 70 percent of the United States' disposable income.
• E) They have utter fluency and comfort with digital technology.

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Definitions:

Personal Income Tax

A tax levied on an individual's income, including wages, salaries, and other earnings, by the government.

Benefits-Received Principle

A theory in tax policy stating that taxes should be levied in accordance with the level of government services and benefits an individual or entity receives.

Revenue

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Income Taxes

Taxes levied by the government on the income of individuals or organizations.