An "Average" Older (65+) Household Spends More Money on

question 47

Multiple Choice

An "average" older (65+) household spends more money on

• A) Clothing than on housing.
• B) Cash contributions than on medical care.
• C) Entertainment than on transportation.
• D) Housing than on cash contributions, entertainment, and clothing combined.
• E) Personal insurance than on food.

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Definitions:

Government Purchases

These are expenditures made by government entities for goods and services that directly satisfy public needs or are used to produce other goods and services for public consumption.

Per Capita GDP

The measure of a country's economic output per person, calculated by dividing the Gross Domestic Product by the total population.

Upper Volta

The former name of the West African country now known as Burkina Faso, until it was renamed in 1984.

Lower Volta

A region in Ghana, characterized by the Volta River's lower part, significant for its hydroelectric projects and agriculture.