Reasons for controlling the rising cost of care

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According to some, one of the reasons for controlling the rising cost of care is that it makes American business less competitive internationally. This will be the topic of this week’s discussion question. First, discuss the notion that the market for labor is competitive, especially in healthcare. What happens when a firm or industry passes high labor costs to consumers? What happens if an industry is strongly unionized? List and discuss the possible adverse effects of rising medical cost on the US economy. After completing your research, do you feel that the rising costs of care makes US businesses less competitive internationally?

Reference no: EM132256648

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