What Is the Main Reason for the Increasing Proportion of Older

question 29

Multiple Choice

What is the main reason for the increasing proportion of older adults in the Canadian population?

• A) declining fertility rates
• B) healthier diets and lifestyles
• C) miracle drug discoveries
• D) socialized medicine

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Definitions:

Substitution

The economic principle describing how consumers or producers switch between goods or resources as relative prices or availability change.

Quart

A unit of liquid volume equal to two pints, approximately 0.946 liters in the United States.

Pound

A unit of currency used in the United Kingdom and other areas, or a unit of weight equal to 16 ounces.

Convex Preferences

Consumer preferences that signify a desire for diversified bundles of goods, represented by convex-shaped indifference curves.