Population Pyramids Are a Graphical Representation of Age Structures

question 47

Multiple Choice

Population pyramids are a graphical representation of age structures. One type of pyramid is a stationary pyramid which has a narrow base, and approximately an equal percentage of people in each age group, tapering off at older ages, which is the result of

• A) a lengthy period of low fertility
• B) slow declines in fertility
• C) rapid declines in fertility
• D) a high proportion of children in the population, a result of high past and present fertility levels
• E) a high proportion of older people in the population

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Definitions:

Direct Labor Cost

The total amount of money a company spends on wages for employees who are directly involved in the manufacturing of products or providing services.

Absorption Costing

An accounting method that includes both variable and fixed manufacturing costs in the cost of a product.

Net Operating Income

The profit realized from a business's operations after subtracting operating expenses but before deducting taxes and interest.

Variable Costing

A cost accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs and treats fixed manufacturing overhead as a period expense.