The Bureau of economic analysis estimates that in 2010, Americans spent $10.2 tr

Question

The Bureau of economic analysis estimates that in 2010, Americans spent $10.2 trillion and personal consumption. The major categories of these expenditures are durable goods ($1,000,000,000,000) nondurable goods ($2.3 trillion), and services ($6.8 trillion, healthcare, education, transportation).

In 2000, the total spending on personal consumption was $6.8 trillion with $918 billion being spent on healthcare. Compare the percentage increase in total spending and health care spending over the decade.

Explanation / Answer

percentage increase in total spending over the decade = $((10.2-6.0)/6.8)*100=61.765%

in 2012 percentage spent on healthcare =((1.7/10.2))*100=16.67%

in 2000 percentage spent on healthcare =((.918/6.8)*100)=13.5%

percentage increase in on healthcare over the decade =(16.67-13.5)% =3.17%

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