At Which Point in History Did the Total Dependency Ratio

question 12

Multiple Choice

At which point in history did the total dependency ratio for Canada peak?

• A) During the early 1970s
• B) During the early 1980s
• C) During the late 1990s
• D) During the baby boom

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Definitions:

Marginal Cost

The increase in total cost that arises from producing an additional unit of output.

Lawn-mowing

The act of cutting the grass in a garden or lawn to maintain its appearance and health.

Perfectly Competitive

A market structure where many firms offer a homogeneous product, there are no barriers to entry or exit, and all firms are price takers.

Short Run

A period in economics during which at least one factor of production is considered fixed, limiting the firm's ability to adjust to changes in market demand.