The Percentage of the Population Over 65 Is Growing at the Fastest

question 46

True/False

The percentage of the population over 65 is growing at the fastest rate in China because the one child per couple law is decreasing the birthrate.

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Definitions:

Utility

A measure of satisfaction or happiness that a consumer derives from consuming goods and services.

Income-Consumption Curve

Curve tracing the utility-maximizing combinations of two goods as a consumer’s income changes.

Utility-Maximizing

A principle or strategy of consumers making choices to achieve the highest overall level of satisfaction or utility from their available resources.

Inferior Good

An inferior good is a type of good for which demand decreases as the income of the individual increases, in contrast to a normal good.