1) According to the most recent data we have, the U.S. spent 17.8% of our gross domestic product (GDP) on health expenditures. First, explain what you understand this to mean. Then, discuss whether you feel this is a problem or not. In your responses, discuss whether you agree or disagree (kindly) and what you think is responsible for the U.S. percentage being so high. 2). First, explain what economists mean when they discuss ″adverse selection″ and ″moral hazard.″ Second, discuss what role adverse selection and moral hazard have (if any) in the difficulties that the ACA (Obamacare) has had with regard to the Insurance Exchanges set up under the ACA. In your replies, be sure to discuss kindly whether you agree or disagree and then to suggest what solutions might be available to help the exchanges deal with adverse selection and moral hazard.