What Term Is Used to Describe the Number of Years

question 295

Multiple Choice

What term is used to describe the number of years in which individuals' physical functioning is favorable enough for them to enjoy their lives and to perform most of their daily activities without impairment?

• A)favorable lifespan
• B)chronological lifespan
• C)active lifespan
• D)functional lifespan

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Definitions:

Recessions

Phases of momentary economic slump that lead to a reduction in trading and industrial activities, frequently identified by declining GDP in two successive quarters.

Aggregate Demand

The total demand for all goods and services in an economy at a given general price level and in a given time period.

Aggregate Supply

The aggregate output of goods and services that companies in a national economy aim to market within a given timeframe.

Classical Economic Theory

A broad school of thought in economics that emphasizes the role of market forces and the flexibility of prices in achieving economic equilibrium, advocating minimal government intervention.