Week 1 Discussion - U.S. health care spending grew 3.6 percent

Question # 00845143 Posted By: wildcraft Updated on: 08/26/2023 02:30 AM Due on: 08/26/2023
Subject Economics Topic General Economics Tutorials:
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Week 1 Disc

U.S. health care spending grew 3.6 percent in 2013, reaching $2.9 trillion or $9,255 per person.  As a share of the nation's Gross Domestic Product, health spending accounted for 17.4 percent.

 Using the above information and other information you will be directed to below, do the following:

  • Define the economic principle of opportunity cost.
  • Locate current GDP expenditures and express the percentages in a graph or a chart.  
  • Explain whether spending 17.4% of GDP is too much or too little to spend on healthcare.
  • Defend your position using the concept of opportunity cost and highlight specific GDP expenditures that are impacted by healthcare expenditure (opportunity cost).
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Tutorials for this Question
  1. Tutorial # 00840610 Posted By: wildcraft Posted on: 08/26/2023 02:31 AM
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