The right answer is False (there's less amount of amygdala activation).
At the cerebral level, the influence of emotions on memory seems to be due to a close relationship between the structures involved in the treatment of emotions and the structures that underlie mnemic processes.
What allows us to have emotional experiences is the so-called "emotional brain" composed of several brain structures, the most important of which is the amygdala.
The activity of the amygdala tends to diminish with age. So in the elderly, their activity is small enough that their perception of emotion is low compared to that of a young subject.