_______ Is the Largest Source of Health Care Funds in the U.S

question 7

Multiple Choice

_______ is the largest source of health care funds in the U.S.

• A) Out-of-pocket
• B) Medicaid
• C) Medicare
• D) Private health insurance
• E) Workers' compensation

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Definitions:

Production

A process that transforms resources into goods and services.

Absolute Advantage

The ability of a country, company, or individual to produce a good or service more efficiently than competitors using the same amount of resources.

Comparative Advantage

The ability of an individual, company, or country to produce a particular good or service at a lower marginal and opportunity cost over another.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower marginal cost and opportunity cost than its competitors.