Which Statement Is True About the Cost of Health Care

question 72

Multiple Choice

Which statement is true about the cost of health care for older adults?

• A) In the United States, government health-care spending decreases with age.
• B) According to current estimates, the cost of Medicare will be cut in half by 2030.
• C) Older Americans spend several times as much on health care as their counterparts do in other industrialized nations.
• D) Older adults make up 14 percent of the U.S. population but account for half of the government health-care costs.

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Definitions:

Economic Profit

The gap between the money made from sales and the forgone benefits of the inputs employed.

Total Revenue

The total amount of money generated by the sale of goods or services related to the company's primary operations.

Assistant's Salary

The compensation provided to an assistant, which could vary based on industry, role, experience, and location.

Economic Profit

The delta between aggregate sales and all-inclusive costs, factoring in both overt and covert costs.