Macroeconomics is the study of how businesses interact to form the market system

What do economists mean when they discuss "scarcity"?

What will be an ideal response?

(Last Word) The inverse dependency ratio is predicted to fall to about 1.16 by 2050. What is the most likely effect of this decline?

A. It will likely cause worker productivity to decline. B. The Social Security system will be on stronger financial footing. C. Innovation will increase significantly as dependents take advantage of their otherwise idle time. D. Living standards will fall if productivity gains don't sufficiently offset the decline in the ratio.