Aging in America Is Reflected in All but ONE of These

question 8

Multiple Choice

Aging in America is reflected in all but ONE of these statements:

• A) by 2030 the number of individuals over 65 will triple
• B) the increased number of elderly will be better educated, more diverse
• C) a large number of the aging will be women
• D) those over 85 will be the fastest growing population

---

Definitions:

Marginal Revenue Product

The extra income obtained through the use of an additional unit of a resource, for example, capital or labor.

Wage Rates

The amount of money paid to an employee by an employer for a unit of time worked or for a certain amount of work completed.

Labor Demand

Denotes the quantity of labor that employers are willing to hire at a given wage rate in a given time period.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied changes by an infinite amount in response to any change in price; most common in theoretical models.