Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 22 - Health Care - Discussion Questions: 18

Answer

The answer is below.

Work Step by Step

Some things that Singapore does in their healthcare system to reduce costs are: (1) competition (2) the high out of pocket costs makes using healthcare less attractive and thus makes it easier to keep the number of people using it limited (3) citizens must save money for healthcare, so they are forced to have money for medical emergencies
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