To Calculate a Country's Dependency Ratio,one Needs to Know the Country's

question 29

Multiple Choice

To calculate a country's dependency ratio,one needs to know the country's population and

• A) the number of children still receiving financial support from their parents.
• B) the number of people who are actively looking for work but are unable to find it.
• C) all of a country's population younger than age 15 or older than age 64.
• D) the number younger than age 15.
• E) the number older than age 64.

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Definitions:

Inelastic Nature

A characteristic of a good or service for which the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.

Monopolistic Markets

Markets dominated by a single seller, with no close substitutes for the product or service, leading to less competition and higher prices.

Oligopolistic Markets

Markets characterized by a few large producers that have the ability to influence prices, but must consider the actions of their rivals.

Minimum Efficient Scale

The lowest level of output at which a firm can minimize long-run average total cost.