One of the Most Important Demographic Characteristics of the American

question 43

Multiple Choice

One of the most important demographic characteristics of the American population in the early twenty-first century is

• A)its growing prime workforce.
• B)a rapid increase of the native-born.
• C)increasing agedness.
• D)decreasing foreign-born population.
• E)a significant increase in the percentage of white residents.

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Definitions:

Differentiated Product

A product that is distinguished from similar products offered by competitors because of unique characteristics or features.

Homogeneous Product

A product that is identical or almost identical in features, functions, and quality across different suppliers.

Equilibrium Price

The price at which the quantity of a product offered for sale matches the quantity that consumers are willing to buy, without any leftover surplus or shortage.

Collusion

Collusion is an agreement among firms in a market to coordinate actions to achieve a higher price or market control, resulting in less competition.