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Understand the concept of the adverse selection death spiral and its implications for the health insurance market.
Identify the primary payers of health care costs in the United States.
Compare health care expenditures and the government's role in health care spending between the United States and other countries.
Recognize the components of the welfare state in wealthy countries with a focus on health care.

Definitions:

Carbonate Rocks

Sedimentary rocks primarily composed of carbonate minerals, such as limestone and dolomite, often formed in marine environments.

Lagoon Mudstone

A type of sedimentary rock formed from the compaction of mud accumulated in a lagoon environment, characterized by fine grains and layers.

Beach Sandstone

A type of sedimentary rock formed from compacted and lithified grains of sand, typically found in coastal environments.

Carbonate Rock

A rock composed mostly of carbonate minerals, especially calcite and dolomite.

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