All of the Following Are True of the Income Method

question 89

Multiple Choice

All of the following are true of the income method of determining life insurance needs except it

• A) is easy to use.
• B) does not consider your age.
• C) factors in the number of children in your family.
• D) doesn't figure in savings or investments.

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Definitions:

Excise Tax

A tax levied on specific goods or commodities produced or sold within a country.

Incidence Of Tax

The analysis of who bears the ultimate burden of a tax, whether it be consumers, producers, or others.

Excise Tax

A tax levied on the sale or use of specific products or transactions, often included in the price of goods like gasoline, alcohol, and tobacco.

Supply Shift

A change in the availability of a product or service, often influenced by factors such as production costs and technological advances, shifting the supply curve.