The Ratio of the Number of People in the Population

question 58

Multiple Choice

The ratio of the number of people in the population aged 65 and older to the number of people aged 20 to 64 has risen in most of the developed countries as:

• A)longevity has declined and the families have had many children.
• B)the family planning laws have been relaxed.
• C)birth rates have increased over time.
• D)there has been an increased preference for male child.
• E)longevity has increased and the families have had fewer children.

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Definitions:

Profit-maximizing

The process or strategy implemented by firms to determine the price and output level that returns the highest profit.

Weak Axiom

Often associated with the Weak Axiom of Revealed Preference (WARP), which is a condition used in consumer choice theory to describe consistent consumer behavior.

Profit Maximization

The strategy of adjusting production and sales to achieve the maximum possible profits.

Input Increases

A situation where the amount, quality, or number of resources used in production grows, potentially leading to an increase in output.