Widows Represent a Sizable Proportion of the Elderly

question 131

Multiple Choice

Widows represent a sizable proportion of the elderly.Which of the following statements about widows is true?

• A)Widows outnumber widowers by eight to one.
• B)Widows usually receive large insurance settlements at the death of their spouse.
• C)A widow is more likely to remarry than a widower.
• D)Adults aged 50 and older who experienced the death of a spouse usually have a higher participation in volunteer work several years after the death.

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Definitions:

Substitutability

The degree to which one good or service can be replaced by another in consumption or production, often influencing competition and pricing in markets.

Elasticity of Supply

A measure of how much the quantity supplied of a good or service changes in response to a change in price.

Factor of Production

Inputs used in the production of goods or services, typically categorized into land, labor, capital, and entrepreneurship.

Cross Elasticity of Demand

The ratio of the percentage change in quantity demanded of one good to the percentage change in the price of some other good. A positive coefficient indicates the two products are substitute goods; a negative coefficient indicates they are complementary goods.