Identify the INCORRECT Statement Pertaining to Senior Citizens

question 187

Multiple Choice

Identify the INCORRECT statement pertaining to senior citizens.

• A) Senior citizens are people over age 65.
• B) The number of senior citizens is increasing rapidly.
• C) Senior citizens' income is often lower than in their peak earning years.
• D) Older people are not all the same.
• E) A higher percentage of senior citizens are considered "poor" than the percentage for all adults.

---

Definitions:

Aggregate Production

The total output of goods and services produced by an economy over a specific time period.

Reallocation

denotes the process of distributing or assigning resources, roles, or tasks differently in response to changes in conditions, preferences, or objectives.

Demand for Land

The demand for land refers to the desire, backed by purchasing power, for the use of land resources for residential, commercial, or agricultural purposes.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied changes infinitely with even the smallest change in price.