Gerontology Final Exam Q&A UPDATED

Gerontology Final Exam Q&A UPDATED The 50+ segment of the U.S. population controls what proportion of the total net worth and financial assets of the country? - ANSWER Three Quarters "Silver industries" include which of the following? - ANSWER Travel, Financial Services, Healthcare Market segmentation of older consumers involves dividing people up according to which of the following? - ANSWER Health Status, Transitions That Commonly Occur in Later Life, Chronological Age, Psychological Characteristics According to the text, what are some of the limitations of the marketplace model? - ANSWER Silver industries such as antiaging medicine is thriving despite a lack of evidence regarding its effectiveness, Marketing to older adults often uses implicitly ageist messages Consumers over age 45 are the new customer majority. - ANSWER True Two thirds of all healthcare expenditures in the United States are spent by people 55 and older. - ANSWER False The senior market is composed of distinct segments, whether based on age or other characteristics. - ANSWER True Most older adults move out of their homes at the point of retirement. - ANSWER False Evidence shows that older people can be motivated to buy and use new products or services if they see a clear benefit in what is offered. - ANSWER True Marketing has often missed the target of older consumers by failing to recognize the crucial dimension of individual differences. - ANSWER True Anti-aging medicine hasn't been very appealing to consumers. - ANSWER False The power of cumulative advantage and disadvantage means that, as we grow older, inequality is likely to increase. - ANSWER True According to the U.S. Department of Labor, careers in aging are expected to be a high-growth area during the next decade. - ANSWER True Ageism—age stereotyping—was created by the advertising industry. - ANSWER False Of all social media users, 33% are baby boomers - ANSWER True The majority of older adults surveyed recently indicated that technology use is not very important to them. - ANSWER False Anti-aging medicine has been proven to increase maximum life span and slow biological aging. - ANSWER False Advertising and marketing tends to ignore the potential of the older adult market. - ANSWER True Approximately how many babies were born during the "Baby Boom" generation? - ANSWER 77 million The "Baby Boomer" generation refers to people born between which years? - ANSWER There is a large amount of _______ among members of the "Baby Boomer" generation. - ANSWER Heterogeneity Which model allows us to look at factors that will influence members of cohorts? - ANSWER Age-Period-Cohort Effects that impact a