Which of the Following Statements Is True

question 24

Multiple Choice

Which of the following statements is true?

• A) From 1960 - 1994 the over-65 population in the U.S. decreased.
• B) By 2050 it is estimated that the over-100 population will triple.
• C) From 1960 - 1994 the over-85 population in the U.S. decreased.
• D) By 2050 it is estimated that the over-85 population in the U.S. will exceed 19 million.

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Definitions:

Opportunity Cost

The cost of choosing one alternative over another, representing the benefits you could have received by taking the next best alternative.

Production Possibilities

Production possibilities represent the different combinations of goods and services that a society can produce, given its available resources and technology, demonstrating trade-offs and opportunity costs.

Opportunity Cost

Surrendering the potential for benefits from different routes when opting for a specific path.

Production Possibilities Frontier

A chart illustrating the maximum production potential for two or more items, considering a specific amount of inputs.