ECONOMICS OF HEALTHCARE

profilemornja
Healthcare Costs Growth in national health spending closely tracked growth in nominal gross domestic product (GDP) in 2010 and 2011, and health spending as a share of GDP remained stable from 2009 through 2011, at 17.9 percent (Micah et al., 2011). Based on the above information, answer the following questions: • Define the economic principle of opportunity cost. • Locate current GDP expenditures and express the percentages in a graph or a chart. • Explain whether spending 17.9% of GDP is too much or too little to spend on healthcare. • Defend your position using the concept of opportunity cost and highlight specific GDP expenditures that are impacted by healthcare expenditure (opportunity cost). Reference: Micah, H., Martin A. B., Benson, J., Catlin, A., & The National Health Expenditure Accounts Team (2011). National Health Spending In 2011: Overall Growth Remains Low, But Some Payers And Services Show Signs Of Acceleration. Health Affairs. Retrieved from http://content.healthaffairs.org/content/32/ 1/87.abstract
    • 10 years ago
    • 10
    Answer(1)

    Purchase the answer to view it

    blurred-text
    NOT RATED
    • attachment
      economics_of_healthcare_answer.docx