In the year 2015, the United States spent about
A. 100 percent of GDP on health care.
B. 17 percent of GDP on health care.
C. 6 percent of GDP on health care.
D. 2 percent of GDP on health care.
Answer: B
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Which of the following does NOT appear in the current account part of the balance of payments?
A) a loan of $1 million from Bank of America to Brazil B) foreign aid to El Salvador C) an Air France ticket bought by an American D) income earned by General Motors from its plants abroad
Recall the Application about the impact inflation has on your potential future salary and the repayment of student loans to answer the following question(s).According to this Application, more years of work would be required to pay off a student loan if all prices (including your salary):
A. remained stable. B. increased by 20 percent. C. decreased by 10 percent. D. increased by 40 percent.
Economic efficiency requires all Pareto improvements to be made
a. True b. False
When quotas are eliminated, losers include
A. Domestic producers. B. There are no losers when free international trade is established. C. Foreign producers. D. Domestic consumers.