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What Is Total Fertility Rate (TFR)? How Do Programs Such

question 39

Essay

What is total fertility rate (TFR)? How do programs such as social security, pension plans, and Medicare affect TFR?


Definitions:

Income Effect

The alteration in income for a person or the economy and the resulting influence on the demand for a certain good or service.

Substitution Effect

The economic principle indicating how consumers react to a change in price by substituting a more expensive item with a cheaper alternative.

Price

The total money demanded to secure a good or service.

Delphiniums

A genus of flowering plants known for their tall spikes of colorful flowers, often used in gardens and floral arrangements.

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