Fred and Irene Have Recently Retired,and Are Moving to a Larger

question 5

Multiple Choice

Fred and Irene have recently retired,and are moving to a larger urban centre to be with like-minded adults.Which of the following reasons explains why is there a peak in migration patterns around retirement age?

• A) Older people are beginning second careers.
• B) Older people are requiring increased levels of institutionalization.
• C) Older people are relocating to improve their quality of life.
• D) Older people are avoiding retirement penalties.

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Definitions:

Transfer Payments

Payments made by the government to individuals or organizations without requiring the recipient to provide goods or services in return, such as welfare or subsidies.

Property Income

Earnings from property ownership, including rent, dividends, and interest.

Gini Coefficient

A commonly used measure of the degree of inequality of income derived from a Lorenz curve. It can range from 0 to a maximum of 1.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showcasing the degree of inequality.