-Using the Table Above,the Working-Age Population Is

question 287

Multiple Choice

-Using the table above,the working-age population is

• A)155 million.
• B)170 million.
• C)195 million.
• D)250 million.
• E)220 million.

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Definitions:

Binding Price Floor

A price floor set above the equilibrium price, causing a surplus because the quantity supplied exceeds the quantity demanded.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.

Government Policy

The set of laws, guidelines, regulations, and actions adopted by a government to influence economic or social outcomes within the country.

Price Control

Government-imposed limits on the prices that can be charged for goods and services, typically used to curb inflation or prevent shortages and surpluses.