Which of the following statements about medical care spending is true?

Question

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Medical expenses among the elderly tend to be higher than medical expenses among the middle-aged. This is due to the fact that as people age, they tend to experience more health issues which require medical attention. Additionally, the cost of medical care tends to increase with age as well. Option A is incorrect as medical expenses among the elderly have increased faster than medical expenses among the middle-aged and young. Option C is incorrect as medical care is not an inferior good. Option D is incorrect as most medical care expenses are paid for by insurance companies or the government, not out-of-pocket by the patient.

Which of the Following Statements About Medical Care Spending Is