In the United States, the Median Age at First Marriage

question 150

True/False

In the United States, the median age at first marriage steadily increased from 1960 to 1990 but has gradually decreased from 1990 until today.

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Definitions:

Equilibrium Price

The price at which the quantity demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Surplus

A condition where the quantity supplied of a product exceeds the quantity demanded at the market price.

Rent Control

A government policy or law that limits the amount landlords can charge for leasing a home or apartment to prevent rapid increases in housing costs.

Equilibrium Prices

The market price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.