Final answer:
The statement is true; institutional languages are designed for use by the entire population, which includes people of all ages from children to elderly individuals. Individuals may also engage in code-switching between the institutional language and various vernaculars depending on social context.
Step-by-step explanation:
The statement that an institutional language is spoken in daily use by people of all ages, from children to elderly individuals is True. Institutional languages, such as the official languages of a country, are meant to be used by the entire population for communication in a variety of settings.
These languages are typically those recorded by a country to be used for all its official government purposes, as well as often being used in education, business, and day-to-day social interactions. For instance, India's official language is Hindi, yet English, as a lingua franca, and other local languages are widely spoken across different regions.
Despite the prevalence of institutional languages, individuals might still use code-switching to navigate between standard language and other vernaculars or nonstandard dialects based on the social context.