In Order for a Man to Be Considered a "Baby

question 10

Multiple Choice

In order for a man to be considered a "baby boomer" when would he need to have been born?

• A) 1900-1946
• B) 1947-1964
• C) 1965-1979
• D) 1980-1999

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Definitions:

Opportunity Cost

The price paid for not selecting the next most favorable opportunity when deciding.

Production Possibilities Frontier

A curve that depicts all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are used efficiently.

Labor Force

The total number of people employed and unemployed, actively seeking employment in an economy.

Production Possibilities Frontier

A curve depicting the maximum output of two goods that can be produced with given resources and technology, assuming all resources are fully utilized.