Asked by Blake Archer on May 06, 2024
Verified
Statement I: Healthcare costs total about 16 percent of our GDP.
Statement II: The U.S.spends more on health care per capita than any other industrial nation.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Healthcare Costs
The total expenditures required for individuals to receive medical services, treatments, and medications, often a significant portion of a country's economy.
GDP
Gross Domestic Product; the total value of all goods and services produced within a country in a specific time period.
Per Capita
A statistical measure that allows comparison of entities by dividing a total quantity by the population size, indicating average value per person.
- Identify the role of healthcare in the economy and compare the U.S. healthcare system to those of other industrial nations.
Verified Answer
BR
Behzad RahimiMay 06, 2024
Final Answer :
C
Explanation :
Both statements are true. According to data from the World Bank, healthcare costs were about 16.9 percent of U.S. GDP in 2019. Additionally, the U.S. spends more on healthcare per capita than any other industrialized nation, as reported by the Organization for Economic Cooperation and Development (OECD).
Learning Objectives
- Identify the role of healthcare in the economy and compare the U.S. healthcare system to those of other industrial nations.