Which of the Following Statements Regarding Aging and Healthcare Costs

question 13

Multiple Choice

Which of the following statements regarding aging and healthcare costs is NOT true?

• A) From 60 years of age to 90 years of age, the cost of healthcare services for men and women escalates at the same rate.
• B) At age 90 years, the cost of healthcare services for women plateaus while the cost for men continues to escalate.
• C) The Medicare costs for a 95-year old retiree is 3 times higher for an individual who retired at 55 years of age than one who retired at 70 years of age.
• D) Scholars have documented that 25% to 30% of lifetime medical expenditures occur in the last year of life with 80% of those costs occurring in the last 60 days of life.
• E) Hospice admission lengths of stay have doubled from 48 days in 1998 to 73 days in 2009.

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that sellers are willing to supply.

Perfectly Inelastic

Describes a situation in which the quantity demanded or supplied does not change in response to a price change.

Demand Determined

implies that the quantity and price of goods and services are decided by the consumers' demand or preferences in the market.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.