The Median Age of the U.S. Population

question 151

Multiple Choice

The median age of the U.S. population

• A) was 37 in 1980.
• B) will be about 30 by 2010.
• C) is decreasing because the percentage of population in older age groups has decreased.
• D) is growing because the percentage of population in older age groups has increased.
• E) has not changed since 1980.

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Definitions:

Nominal Variables

Variables measured in monetary terms that have not been adjusted for inflation, representing current prices.

Real Variables

Economic variables measured in physical units, reflecting quantities and qualities, rather than their monetary value, often adjusted for inflation.

Money Supply

The overall financial resources at a certain point in time within an economy, encompassing all cash, coins, and checking and savings account balances.

Money Demand

The desire to hold cash or liquid assets, influenced by factors such as interest rates, income levels, and economic activity.