What Statement Does Scarth (2003)make About the Reality of Serving

question 37

Multiple Choice

What statement does Scarth (2003) make about the reality of serving an older population?

• A) It costs more than serving a younger population.
• B) It costs less than serving a younger population.
• C) It costs the same as serving a younger population.
• D) Canada may need to increase its GDP by 13 percent to finance social security and other programs for older people in the future.

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Definitions:

Interest Rates

A finance charge expressed as an annual rate of return or the annual cost of credit or loan, which reflects the time value of money.

Currency Depreciate

A decrease in the value of a currency relative to other currencies in the foreign exchange market.

Currency Appreciate

The increase in the value of one currency relative to another in the exchange rate markets.

Fixed Exchange Rate

Rate of exchange between currencies pegged within a narrow range and maintained by the central bank’s ongoing purchases and sales of currencies.