Which of the Following Is True About the Cost of Health

question 55

Multiple Choice

Which of the following is true about the cost of health care in Canada?

• A)The supplementary health care benefits funded by the provinces vary across the country.
• B)The federal government administers all Canadian health care through the Canada Health Act.
• C)Health care costs as a portion of revenue are growing minimally over time.
• D)Approximately half the funding for health care comes from private health care plans.

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Definitions:

Amortized

The process of gradually writing off the initial cost of an asset over a period.

Interest Paid

This is the amount of money paid by a borrower to a lender in return for the use of borrowed money, usually expressed as a percentage of the principal.

Effective Rate

The actual interest rate an investor earns or pays on an investment or loan, taking into account the effect of compounding.

Nominal Rate

Nominal Rate is the interest rate before adjustments for inflation, reflecting the actual monetary cost of borrowing.