Whereas in the 1960s, the Average Age of First Birth

question 52

Multiple Choice

Whereas in the 1960s, the average age of first birth was _____ for women, today the average age is ______.

• A) 17; 20
• B) 21; 24
• C) 19; 27
• D) 19; 30

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Definitions:

Market Rate

The prevailing price or interest rate at which goods, services, or securities are traded in a competitive marketplace.

Shortage

A situation where the demand for a product or service exceeds the supply available at a specified price.

Usury Law

Legislation that sets maximum interest rates that can be charged on loans, to prevent excessive interest.

Market Equilibrium

A market state where the quantity supplied equals the quantity demanded, leading to a balance in price and volume.