Step 1: Understanding the Concept:
Family Resource Management divides the Family Life Cycle into distinct developmental stages based on family size and resource demands.
Step 2: Detailed Explanation:
In the classic three-stage Family Life Cycle (Bigelow Nickell and Dorsey):
1. Stage I: The Beginning Family: From marriage to birth of the first child (establishing period).
2. Stage II: The Expanding Family: From birth of the first child through children's schooling and college education.
3. Stage III: The Contracting Family (Launching Stage): Begins when the first child leaves home for college, employment, or marriage and ends when the last child leaves home, culminating in the empty nest/retirement phase.
Step 3: Final Answer:
Thus, this stage of the family life cycle is The contracting family, matching option (B).