What is inverse dependency ratio? What does it mean for future worker productivity?
Please provide the best answer for the statement.
The inverse dependency ratio is the number of people working age (ages 20 to 64) divided by the number of dependents (seniors over the age of 65 and youths under the age of 20). In the United States this ratio is expected to fall from 1.5 working per dependent in 2010 to 1.16 in 2050. This fall in workers means the number of hours worked will decrease. To maintain economic growth worker productivity will have to increase to meet the shrinking working population. The inverse dependency ratio does not only influence economic growth, but it will also have an effect on Social Security and other social programs.
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The market demand curve shows how the quantity demanded of a product, during a specified time period, changes as the price of that product changes
a. True b. False Indicate whether the statement is true or false
One difference between monopolistic competition and pure competition is that:
A. Products may be homogeneous in monopolistic competition B. There is some control over price in monopolistic competition C. Monopolistic competition has significant barriers to entry D. Firms differentiate their products in pure competition