Question: [This problem is based on material discussed in Appendix 2B]. The relationship between health care spending (E) and per capita national income (Y) was estimated

[This problem is based on material discussed in Appendix 2B]. The relationship between health care spending (E) and per capita national income (Y) was estimated using cross-section data from 31 developed countries. The resulting equation (HCE = − 538.3 + 0.11 GDP) relates spending and GDP.

a. Interpret the coefficient on the national income variable.

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