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.
You might also like to view...
CEO is an abbreviation for
a. corporate executive organization b. category of endless output c. chief executive officer d. common efficient output e. corporate extra operation
Suppose a firm in each of the two markets listed below were to increase its price by 15 percent. In which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not?
a. cotton and soybeans b. gasoline and corn c. #2 lead pencils and college textbooks d. electricity and cable television
An exchange rate crisis is caused by
A) a sudden and an unexpected collapse in the value of a nation's currency. B) the inability of the IMF to predict the immediate collapse of the currency of a country. C) the adoption of a flexible exchange rate system by a country or group of countries. D) the adoption of a fixed exchange rate system by a country or group of countries.
Refer to Figure 23.1. The total costs of achieving total quality are:
A. $1,040. B. $250. C. $1,300. D. $1,065.