The image contains information as follows:**Graph Title:** Percentage of Total National Income Spent on Health Care in the United States**Graph Description:**- **X-axis (Horizontal):** Represents the years, ranging from 1965 to 2015, with the years marked at intervals: 1965, 1970, 1975, 1980, 1985, 1990, 1995, 2000, 2005, and 2015 (with 2015 marked as an estimate).- **Y-axis (Vertical):** Represents the percentage of total national income, ranging from 0% to 18% in intervals of 2%.The graph displays a series of bars, each corresponding to a year, showing an upward trend in the percentage of national income spent on health care over time.**Questions:**(a) - The variable shown on the horizontal axis is ____________.(b) - The units for the variable on the vertical axis are ____________.(c) - As a percentage of Total National Income, the United States spent about __________% in 1990 and about __________% in 2000 on Health Care.(d) - The above diagram shows that Health Care Cost in the United States has been _________________ (rising, declining) over time.**Exercises:**9. Calculate the following: - **Instruction:** Simplify or reduce all of your answers. - a. $ \frac{3}{4} - \frac{3}{24} $ - b. $ \frac{1}{2} + \frac{1}{12} $

A value of a variable as a percentage of the value of the other variable is given as: = (value…

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8. Figure below shows the Percentage of Total National Income Spent on Health Care in the United States: 18 16 Percentage of Total National Income ONA 14 12 10 8 9 4 2 *** www. * www. www. www. www. www. www. www. www. wwww www. wwww www. ww **

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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