Although Social Security is a problem, some projections
Chapter 7, Problem 82(choose chapter or problem)
Although Social Security is a problem, some projections indicate that there s a much bigger time bomb ticking in the federal budget, and that s Medicare. In 2000, the cost of Social Security was 5.48% of the gross domestic product, increasing by 0.04% of the GDP per year. In 2000, the cost of Medicare was 1.84% of the gross domestic product, increasing by 0.17% of the GDP per year. (Source: Congressional Budget Office) a. Write a function that models the cost of Social Security as a percentage of the GDP years after 2000. b. Write a function that models the cost of Medicare as a percentage of the GDP years after 2000. c. In which year will the cost of Medicare and Social Security be the same? For that year, what will be the cost of each program as a percentage of the GDP? Which program will have the greater cost after that year?
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