Question

Table 18.6 shows the amounts Americans spent for medical care, per capita, between 1987 and 1993 (World Almanac and Book of Facts, 1995, p. 128 and Census Bureau).
a. Create a “medical care index” for each of these years, using 1987 as a base.
b. Comment on how the cost of medical care changed between 1987 and 1993, relative to the change in the Consumer Price Index, which was 113.6 in 1987 and 144.5 in 1993.


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  • CreatedOctober 22, 2015
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