The Elderly Dependency Ratio

question 55

Multiple Choice

The elderly dependency ratio

• A)measures the proportion of seniors (aged 65 and older)to workers.
• B)measures the proportion of healthy seniors to unhealthy seniors.
• C)measures the proportion of seniors who live independently to those who have caretakers.
• D)measures the proportion of seniors who are employed to those who are retired.

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Definitions:

Equilibrium Price

The price level where the amount of products provided matches the amount of products customers want to buy.

Equilibrium Price

The price at which the quantity of a product offered for sale matches the quantity that buyers are willing to buy, leading to a stable market condition.

Price Floor

A government- or group-imposed limit on how low a price can be charged for a product, above the equilibrium price, leading to surpluses.

Surplus

A situation where the quantity supplied exceeds the quantity demanded at the current price; often refers to excess in budget or resources.