Based on the Washington Post article How Obama's Tobacco Tax Would Drive Down Smoking Rates, identify each of the statements as true or false. The Congressional Budget Office (CBO) estimates that a $1.00 per pack tax would reduce smoking by 1.4 million people by 2021. The CDC estimates that doubling the federal tobacco tax would reduce the number of children who smoke by 230,000. The CBO estimates that doubling the federal tobacco tax would reduce the number of adults 40 years old or older who smoke by about 1.5%. The CBO estimates that a higher cigarette tax would have its smallest impact on younger smokers, but the impact would grow with the smoker's age. Intense smokers are defined as people who smoke at least 100 cigarettes a day.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan