Question

What is Gross Domestic Product (GDP)?

Is the USA GDP growing now and at what rate?

What percentage is healthcare of the GDP in the USA? How does this compare with other developed countries and what are some possible explanations for the difference? (You will need to research this on your own and report it here.)

Answer 1

Means of GDP :- GDP is the total value of everything produced by all the people and companies in the country. It doesn't matter if they are citizens or foreign-owned companies. If they arelocated within the country's boundaries, the government counts their production as GDP.

GDP analysis of USA:- The US economy advanced an annualized 2.5 percent on quarter in the last three months of 2017, below an advance reading of 2.6 percent and 3.2 percent in the previous period.

Percentage of Health care in GDP :- U.S. health care spending grew 4.3 percent in 2016, reaching $3.3 trillionor $10,348 per person. As a share ofthe nation's Gross Domestic Product, health spending accounted for 17.9 percent.

Comparison of health care GDP of USA with other Countries:- Life expectancy in the US is still lowerthan other developed countries, despite health funding increasing at a much faster pace.Donald Trump ran on a campaign to repeal and replace the Affordable Care Act, popularly known as Obamacare, but discord among Republicans has highlighted the political challenges faced with implementing a healthcare system, much less trying to change it.With millions still uninsured and the financial burden of healthcare still quite high, the current US policy falls short of the WHO threshold.Thus far, separate bills introduced in the House and the Senate were estimated to see steep increases in the number of uninsured from current levels.