The graph in the following figure shows the projected federal spending for Medicare as a percent of

Question:

The graph in the following figure shows the projected federal spending for Medicare as a percent of the gross domestic product. If these expenditures were modeled as a function of time, which of a growth exponential, a decay exponential, or a logarithm would be the best model? Justify your answer.

A Consuming Problem Under current eligibility requirements, federal spending on entitlement programs, particularly Medicare, would 25% 20.....* grow enormously in the future. Spending as percentage of gross domestic product 15.. 10.... Social Security Medicare '60 '70 *80 '90