The Number of Households That Face the Burden of Caring

question 180

True/False

The number of households that face the burden of caring for one or more elderly parents has increased significantly over the past decade.

Comprehend the variability of property insurance premiums with deductibles.

Recognize the effects of economic conditions on insurance policy loans.

Define indemnification and its implications in insurance contexts.

Learn the eligibility criteria for Medicare and other health insurance programs.

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Definitions:

Income Mobility

Movement of individuals and families either up or down income-distribution rankings when comparisons are made at two different points in time. When substantial income mobility is present, a person’s current position in the rankings will not be a very good indicator of what his or her position will be a few years in the future.

Income Inequality

The uneven distribution of income within a population, leading to disparities between the wealth of different groups.

Annual Data

Information or statistics recorded over a one-year period.

Positive Economics

An aspect of economics that focuses on objective analysis and descriptions of how the economy functions, without prescribing policies.