Based on the Fertility-Rate Calculations for Major Industrialized Countries, Their

question 184

Multiple Choice

Based on the fertility-rate calculations for major industrialized countries, their populations are expected to decline significantly in the coming years because the

• A) total fertility rate is higher than the replacement rate.
• B) total fertility rate is below the replacement rate.
• C) fertility rate and the replacement rate are about equal.
• D) fertility rate divided by the replacement rate is greater than one.

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Definitions:

Misallocation

The inefficient distribution of resources in an economy.

Rationing Coupons

Documents or electronic vouchers used to limit the consumption of resources or goods, particularly during shortages.

Market Price

The market rate at which you can currently buy or sell a service or asset in a specified market.

Equilibrium Price

The market-clearing price where the intentions of buyers and sellers match, leading to an optimal distribution of goods and services.