A Large Proportion of Americans Now Experiences the Empty-Nest Syndrome-The

question 33

Multiple Choice

A large proportion of Americans now experiences the empty-nest syndrome-the departure of adult children from the home-at an earlier age.Which of the following is a reason for this?

• A) Most young adults now appreciate the benefits of staying in multigenerational households.
• B) There has been a decline in the number of neolocal families due to unemployment.
• C) The average age of the population has now significantly increased since the mid-1800s.
• D) Women now tend to prolong child rearing by keeping huge age differences among children.

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Definitions:

Consumption

(rephrased) involves the utilization of goods and services by individuals or communities, primarily for personal satisfaction and basic needs.

WARP

WARP, or the Weak Axiom of Revealed Preference, is a consistency criterion for consumer choice behavior, suggesting that if a consumer prefers bundle A over bundle B when both are affordable, they should not choose B when A is still affordable.

Bundle

A collection of items or services grouped together as a single package.

Laspeyres Price Index

A price index calculated by taking the ratio of the total cost of purchasing a specified set of goods and services at current prices to the total cost of purchasing the same set of goods and services at base period prices, using base period quantities as weights.