The Number of Married Adults in the United States

question 44

Multiple Choice

The number of married adults in the United States:

• A) is about the same today as in 1960.
• B) is at an all-time high.
• C) is at an all-time low.
• D) dropped from 1960 to 1980 and has climbed steadily since then.

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Definitions:

Demand Curves

Graphical representations showing the relationship between the quantity of goods consumers are willing and able to purchase at various prices, typically downward sloping from left to right.

Own Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, holding all else constant.

Specific Tax

A tax that is levied as a fixed amount per unit of a good or service, rather than a percentage of the price.

Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicating the flexibility of producers.