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Calculate the dependency ratio for the nation

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Suppose the average Social Security benefits in the nation are $12,000 per year. The number of Social Security pension recipients is currently 50 million. There are 150 million workers in the workforce this year and the average taxable wage per worker if $25,000 per year. Calculate the dependency ratio for the nation. Show and explain your work, of course.

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Solution Summary

This solution explains how to calculate the dependency ratio for a country.

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The dependency ratio takes into account how many people depend on the workforce for income, as in the equation below.
Dependency Ratio = ...

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