1. Individuals who switch from a low-demand industry to a high-demand industry usually earn higher incomes.

Select one:

True

False

2. Danny invests $124,090 in a fund and expects to receive $10,000 per year for the next 30 years. What is the approximate rate of return?

Select one:

a. 8 percent

b. 7 percent

3. Students should not file income tax returns because they have to pay sales taxes such as the GST and PST.

Select one:

True

False

4. The longer the time period, the lower the present value interest factor, other things being equal.

Select one:

True

False

5. Interest and dividends received by an individual taxpayer are taxable.

Select one:

True

False