Indicate whether the statement is true or false, and justify your answer. Be sure to cite evidence
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Indicate whether the statement is true or false, and justify your answer. Be sure to cite evidence from the chapter and state any additional assumptions you may need. Review the basic assumptions of the Grossman model before answering these questions.
The fact that older people spend more on health care is evidence against theGrossman model, which predicts that spending will decline as δ increases.
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