Final answer:
The impact of the adoption of a national healthcare plan on GDP can vary and is not universally fixed. Elements like hospital stays and professional childcare contribute to GDP, while non-market transactions and used goods sales do not. Overall, healthcare spending, such as that on Medicare and Medicaid, has grown as a percent of GDP over time.
Step-by-step explanation:
The impact on GDP (Gross Domestic Product) of the adoption of a national healthcare plan can vary depending on the specifics of the plan. Generally, healthcare expenditures, which include payments for programs like Medicare and Medicaid, have grown as a percent of GDP. This means that as healthcare becomes more of a focus, and if a national healthcare plan increases spending in this sector, it could lead to an increase in GDP. However, this is not a straightforward calculation, as the overall impact on GDP will depend on a variety of factors including how the healthcare is financed, the efficiency of the spending, and the effects on productivity and employment.
When considering GDP components, certain expenditures and transactions contribute to GDP calculation while others do not. For instance, hospital stays, which are a direct cost associated with healthcare, are included in the GDP as they involve a market transaction and the production of a service. Similarly, child care provided by a licensed day care center contributes to GDP, as it is a paid service. Conversely, the rise in life expectancy is not included in GDP as it is not a market transaction. Non-market transactions, such as unpaid child care provided by a family member, and non-production transactions like the sale of used goods, do not contribute to GDP. Nevertheless, the sale of new goods, such as a new car, and inputs used in the production of new goods, like iron used in manufacturing a new refrigerator, do contribute to GDP.