Inequality in Old Age Is Not a Random Pattern but a Consistent

question 41

Multiple Choice

Inequality in old age is not a random pattern but a consistent one. A person's _____ is a major factor in her/his income security in old age.

• A) assets
• B) inheritance
• C) work history
• D) pension benefits

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Definitions:

Tax Incidence

The analysis of the effect of a particular tax on the distribution of economic welfare among entities like consumers, producers, and the government.

Supply Curve

A graph showing the relationship between the quantity of goods that producers are willing to sell and the price of those goods.

Buyers Pay

The principle where the purchaser of a good or service is responsible for paying any tax or additional cost associated with its purchase.

Tax Burden

The total amount of tax paid by individuals or businesses, often expressed as a percentage of income or economic output.