Aggregate U

question 187

Multiple Choice

Aggregate U.S. health care spending in 2014 was approximately

• A) 5.2 percent of domestic output (GDP).
• B) 13.1 percent of domestic output (GDP).
• C) 17.5 percent of domestic output (GDP).
• D) 21 percent of domestic output (GDP).

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Definitions:

Recession

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, income, employment, manufacturing, and retail sales.

Excess Reserves

The amount of reserves that a bank holds beyond the minimum required by regulation or central bank policy.

Decrease Deposits

A reduction in the amount of funds deposited in banks or financial institutions, often indicating a shift in savings or investment strategies.

Excess Reserves

The reserves that banks hold over and above the legal requirement set by the central bank, available to lend or invest.