Recall Application 3, "Increasing Health-Care Expenditures and Crowding Out," to answer the following questions:
-According to the application, the increase in the share of health- care spending to GDP from the 1950s to 2000 is due to:
A) a larger elderly population.
B) a higher relative price of health- care relative to other goods and services.
C) higher life expectancy.
D) All of the above are correct.

Question

Quizplus · Accepted Answer

The increase in the share of health-care spending to GDP from the 1950s to 2000 is due to all of the above factors: a larger elderly population, a higher relative price of health-care relative to other goods and services, and higher life expectancy.

Recall Application 3, "Increasing Health-Care Expenditures and Crowding Out," to Answer