The Dependency Ratio Was ________ in 1950 and Had Shrunk

question 82

Multiple Choice

The dependency ratio was ________ in 1950 and had shrunk to ________ by 2000.

• A) 22:1; 8:1
• B) 16:1; 4:1
• C) 14:1; 6:1
• D) 48:1; 12:1

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Definitions:

Long-Run Supply Curve

A graphical representation showing the relationship between price and the quantity supplied over time, when all inputs can be adjusted.

Competitive Market

A market structure characterized by many buyers and sellers, resulting in competition that influences prices and product offerings.

Limited Quantities

Refers to the restricted availability of goods or resources, which can affect pricing, demand, and supply conditions.

Opportunity Costs

The penalty of bypassing the next most advantageous option when a decision is made.