Concept explainers
Economic dependency ratio The economic dependency ratio is defined as the number of persons in the total population who are not in the workforce per 100 in the workforce. Since 1960, baby boomers in the workforce and a decrease in the birth rate have caused a significant decrease in the economic dependency ratio. With data for selected years from 1960 and projected to 2050, the economic dependency ratio R can be modeled by the function
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MATHEMATICAL APPLICATIONS FOR THE MGT
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