Recall Application 3, "Increasing Health-Care Expenditures and Crowding Out," to Answer

Multiple Choice

Recall Application 3, "Increasing Health-Care Expenditures and Crowding Out," to answer the following questions:
-According to the application, the increase in the share of health- care spending to GDP from the 1950s to 2000 is due to:

A) a larger elderly population.
B) a higher relative price of health- care relative to other goods and services.
C) higher life expectancy.
D) All of the above are correct.