Respuesta :
The answer is: 18%
Approximately, the total amount of medical cost that the government had to cover is around 2.9 Trillion Dollars every years.
Since the Gross Domestic product of united states is approximately around 16.1 Trillion dollars every year, the percentage of the medical cost is:
2.9/16.1 x 100 = 18.01% from total GDP
The medical costs consume nearly 18% of the U.S. gross domestic product, most of it paid through government and private health insurance.
Further Explanation:
GDP of US:
The maximum percentage of GDP of the United States is spent on services for health care. The government expenditure on health care is the same but private health care spending is higher in comparison with other developed countries. The spending in Private health care is about nine percent. The reasons for high costs are higher physicians’ salaries, high medicine spending per capita and inflated health care administration costs.
The public spending is for these health care programs namely, Medicaid, Children’s Health Insurance Program, Medicare and subsidies provided to low income group.
The total expenditure incurred in providing health care services is $3.5 trillion out of which expenditure of $1.5 trillion is indirectly or directly incurred by the government. The $3.5 trillion amounts to about 18% of the Gross domestic product of the United States.
Learn more:
1. Equilibrium GDP and taxes
https://brainly.com/question/4306898
2. Learn more about the profit from the sales of the property
https://brainly.com/question/2617534
3. Learn more about the components of the rental housing agreement
https://brainly.com/question/2358162
Answer details:
Grade: High School
Subject: Economics
Chapter: Fiscal Policy
Keywords: medical costs consume nearly, 18% of u.s. gross domestic product, medical costs paid through government and private health insurance, most of it.
