Suppose that the current first generation consists of 1, Business Economics

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Suppose that the current first generation consists of 1

Suppose that the current (first) generation consists of 1 million people, half of whom are women. If the total fertility rate is 1.3 and the only way people die is of old age, how big will the fourth-generation (the great-grandchildren) be? How much smaller (in percentage terms) is each generation than the previous generation? How much smaller (in percentage terms) is the fourth-generation than the first generation? Are you surprised by how quickly the population declines?

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Business Economics: Suppose that the current first generation consists of 1

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