Recall the Application about how society will cope with increased demands for entitlement programs to answer the following question(s). This Application addresses the impact of increasing life expectancy and aging populations on the costs of government entitlement programs such as Social Security, Medicare and Medicaid, and examines several possible solutions to the potential problem.
-According to this Application, in the year 2075, the portion of GDP devoted to spending on Social Security, Medicare and Medicaid is expected to be
A) significantly less than the share of GDP devoted to these programs today.
B) roughly equal to the total amount of GDP today.
C) larger than total federal spending's share of GDP today.
D) greater than the consumption spending component's share of GDP in 2075.

Question

Quizplus · Accepted Answer

According to the application, the spending on entitlement programs such as Social Security, Medicare, and Medicaid will be larger than the total federal spending's share of GDP today. This indicates that the costs of these programs will significantly increase in the future due to the aging population and increased life expectancy.

Recall the Application About How Society Will Cope with Increased