According to the textbook,the Manning study suggests that a large share of the inflation in medical expenditures is caused by

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The Manning study suggests that first-dollar medical insurance, which means that the insurance will cover all medical expenses without requiring any co-payments or deductibles from the patient, is a major cause of the inflation in medical expenditures. Patients with first-dollar insurance have little or no incentive to consider the cost of their medical treatments, and doctors may also be more likely to prescribe expensive treatments if they know that the patient's insurance will cover the cost. This results in overutilization of medical services and higher overall medical expenditures.

According to the Textbook,the Manning Study Suggests That a Large