Countries That Have Completed the Demographic Transition Typically Have

question 9

Multiple Choice

Countries that have completed the demographic transition typically have

• A)good use of technology but only basic medicine.
• B)good use of technology and high per capita income.
• C)high per capita income and high rates of fertility.
• D)high rates of fertility and widespread use of modern medicine.

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Definitions:

Revealed Preferred

A theory in economics that preferences of consumers can be understood from their purchasing habits and choices, as observed from actual market behavior.

WARP

The Weak Axiom of Revealed Preference, a concept in microeconomics that asserts if a consumer prefers bundle A over bundle B when both are affordable, then the consumer will not choose B over A when B's price decreases making it more affordable.

Bundle

A group or collection of items that are offered together as a single package.

Laspeyres Price Index

A price index that measures the relative price change of a basket of goods and services, using the quantities from the base period.