Relative to the general index of consumer prices, medical-care prices have
A) fallen quite substantially since the beginning of the Medicare and Medicaid programs in 1965.
B) risen quite substantially since the beginning of the Medicare and Medicaid programs in 1965.
C) remained roughly constant since the beginning of the Medicare and Medicaid programs in 1965.
D) fallen, but only slightly, since the beginning of the Medicare and Medicaid programs in 1965.

Question

Quizplus · Accepted Answer

Medical-care prices have risen quite substantially since the beginning of the Medicare and Medicaid programs in 1965. This is partly due to an increase in demand for medical services and advancements in medical technology, but also because of various factors such as administrative costs, prescription drug prices, and malpractice insurance costs. Despite efforts to control healthcare costs, such as the Affordable Care Act, healthcare expenses continue to rise at a rapid pace.

Relative to the General Index of Consumer Prices, Medical-Care Prices