Explain the Economic Impact of the Growing Number of Elderly

question 65

Essay

Explain the economic impact of the growing number of elderly people in the population.

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Definitions:

Implicit Marginal Tax Rates

The indirect rates at which additional income is taxed, factoring in the loss of government benefits or subsidies as income increases.

Poverty Threshold

The minimum level of income deemed adequate in a particular country to live on, below which one is considered to be in poverty.

Low-Skill Workers

Individuals with minimal vocational training or qualifications, generally associated with lower-paying jobs.

Cumulative Share

The total percentage or portion of some quantity or number that is accumulated from a series of parts or contributions.