Projections Are That, by the Year 2050, There Will Be

question 53

Multiple Choice

Projections are that, by the year 2050, there will be approximately million Americans age 65 and older.

• A) 34
• B) 57
• C) 88
• D) 101

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Definitions:

Interest Rate

A financial term denoting the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Equilibrium Interest Rate

The interest rate at which the demand for loanable funds equals the supply of loanable funds, balancing savings and investment in the economy.

Total Spending

The sum of all expenditures made by consumers, businesses, and the government within an economy over a specific period.

Riskier Loans

Loans that carry a higher chance of default compared to standard loans, often resulting in higher interest rates to compensate for the increased risk.