Labor Economics 5th Edition by George Borjas

Exercise 28

Over the last 100 years, real household income and standards of living have increased substantially in the United States. At the same time, the total fertility rate, the average number of children born to a woman during her lifetime, has fallen in the United States from about three children per woman in the early twentieth century to about two children per woman in the early twenty-first century. Does this suggest that children are inferior goods