Asked by joseph onuorah on Jul 13, 2024
Verified
One reason for the projected increase, over the next several decades, in government spending as a percentage of GDP is the projected increase in the size of the elderly population.
Elderly Population
The segment of the population that is aged, often defined as people 65 years and older.
GDP
GDP, or Gross Domestic Product, denotes the overall monetary or market valuation of all completed goods and services that are produced within the territorial limits of a country during a specified time span.
- Understand the impact of demographic changes on government spending.
Verified Answer
MS
Matthew SchreiberJul 20, 2024
Final Answer :
True
Explanation :
As the elderly population increases, government spending on healthcare, social security, and other age-related benefits is projected to rise, thereby increasing government spending as a percentage of GDP.
Learning Objectives
- Understand the impact of demographic changes on government spending.