MICROECONOMICS (LL) W/CONNECT ACCESS
21st Edition
ISBN: 9781264197163
Author: McConnell
Publisher: MCG CUSTOM
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Chapter 19, Problem 2DQ
To determine
Reason for demographic changes.
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As one of the largest and fastest-growing industries in 2018, health care provided how many jobs for wage and salary workers? O 18 million 30 million 3 pts O 24 million O 12 million
What are spillover effects and how do they affect growth? (LO27-4)
Suppose that the current (first) generation consists of 1 million people, half of whom are women. Assume the total fertility rate is 1.2 and the only way people die is of old age.
Instructions: In part a, enter your answer as a whole number. In parts b and c, round your answers to 2 decimal places.
a. How big will the fourth generation (the great-grandchildren) be?
___ people
b. How much smaller (in percentage terms) is each generation than the previous generation?
___ percent
c. How much smaller (in percentage terms) is the fourth generation than the first generation?
___ percent
Chapter 19 Solutions
MICROECONOMICS (LL) W/CONNECT ACCESS
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