Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn

Exercise 14

LAST WORD Would you expect a country with a total fertility rate of 2.7 to have a growing or a shrinking population over the long run? What about a country with a total fertility rate of 1.2? In 20 years, will America have more or fewer workers per retiree than it does today? Why does a falling inverse dependency ratio make it harder for real GDP to continue growing?