The ______ is the ratio of the non-working population (under 15-year-old and over 64 years old) to the working-age population ?
Correct answer: C. dependency ratio
- A. labor force participation rate
- B. per capita population ratio
- C. dependency ratio
- D. None of these
Explanation
The dependency ratio compares people usually outside the working-age group, conventionally under 15 and 65 or older, with the working-age population. Labour-force participation instead measures the share of working-age people in the labour force.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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