Recall Application 3, "Increasing Health-Care Expenditures and Crowding Out," to answer the following questions:
-We can infer from the application that the increase in living standards today may cause a drop in living standards in the long run.

Question

Quizplus · Accepted Answer

The increase in health-care expenditures and crowding out can lead to a decrease in living standards in the long run as resources are diverted away from other important areas such as education, infrastructure, and technology. This can ultimately lead to a decrease in economic growth and development, impacting living standards in the long run.

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