Based on the current rate of growth, health care spending as a percentage of GDP through Medicare, Medicaid, and other U.S. government programs is expected to
A) double over the next 40 years.
B) stabilize within the next 20 years.
C) slow down during this decade.
D) account for a majority of spending as a percentage of GDP within 5 years.
A
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Indicate whether the statement is true or false
In 1984, the National Minimum Drinking Age Act was passed, raising the legal age to consume alcoholic beverages in the United States to 21. In much of Europe, the legal age to consume alcohol is 18
If the legal drinking age in the United States was changed back to 18, how would this affect the market for alcoholic beverages? What would happen to the equilibrium price and quantity of alcoholic beverages?
Between 1945 and 1950, federal expenditures
(a) dropped by two-fifths despite the Marshall Plan. (b) dropped by two-fifths because of dissipation of wartime expenditures. (c) increased by two-fifths because of increased spending in private consumer and business markets. (d) increased by two-fifths because of the Marshall Plan.
Allowing free trade can lead to greater output because of the principle of: a. absolute advantage
b. rule of 70. c. comparative advantage. d. scarcity.