Which of the Following Statements About the Baby Boomer Generation

question 50

Multiple Choice

Which of the following statements about the baby boomer generation is TRUE?

• A)As baby boomers retire,more funds will enter the Social Security system.
• B)There are about 3 million baby boomers in the U.S.today.
• C)Baby boomers are an unusually small segment of the population born in the aftermath of World War II.
• D)Baby boomers are people born between the late 1940s and the early 1960s.

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Definitions:

Long Run Adjustments

Changes or adaptations made by firms in response to long-term changes in market conditions, where all inputs and production capacities can be varied.

Constant-cost Industry

An industry where the costs of production, including inputs and technology, do not change as the total output of the industry changes.

Long-run Equilibrium

A state in which all aspects of an economy or market are balanced, and all adjustment processes have been completed over time.

Consumer Demand

The desire and ability of consumers to purchase goods and services at given prices within a specific time period.