Applied Economics Prelim Exam 20162017

Republika ng Pilipinas Kagawaran ng Edukasyon Dibisyon ng Romblon

FERROL NATIONAL HIGH SCHOOL Brgy. Tubigon, Ferrol, Romblon

SENIOR HIGH SCHOOL 2nd SEMESTER - GENERAL ACADEMIC STRAND Preliminary Examination Alied E!onomi!" Name# $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

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I% M<ile C'oi!e# Choose the letter o the !orre!t answer. ". #hat is a state o po$erty in whi!h in!ome is insu%!ient or maintaining a minimum standard standard o li$ing& a. abs absol olut ute e po$ po$er erty ty b. rela elati$e ti$e po$e o$erty rty !. $irtu irtua al po$ po$e erty rty d. !ompa omparrati$ ti$e po$ po$er erty ty '. #hat is the systemati! approa!h in estimating the strengths and weaknesses o alternati$es& a. !ost !ost(b (ben ene) e)tt anal analys ysis is b. !ost !ost(b (ben ene) e)tt dime dimens nsio ion n !. !ost !ost(( bene bene)t )t thr thresho eshold ld d. e*ter *terna nall migration +. #hat is the term popularied by -ary Be!ker that reers to the sto!k o knowledge, habits, so!ial and personality attributes, attributes, in!luding !reati$ity, embodied in the ability to perorm labor so as to produ!e e!onomi! $alue& a. human !apital b. human power !. human mind d. human resour!e . #hat is the graph o whi!h the !umulati$e per!entage per!entage o total national in!ome /or some other $ariable0 is plotted against the !umulati$e per!entage o the !orresponding !orresponding population /ranked in in!reasing sie o share0& a. 1oren Cur$e b. -ini Coe%!ient !. 2pillo$er e3e!ts d. #astage 4. #hat is the number o households ha$ing an in!ome below the Po$erty Po$erty Threshold& a. po$erty in!iden!e b. po$erty threshold !. po$erty trap d. po$erty 5. 6t reers to the e!onomi! e$ents in one !onte*t that o!!ur be!ause o something else in a seemingly unrelated unrelated !onte*t, what is it& a. spillo$er e3e!ts b. spillo$er !ost !. spillo$er wastage d. surplus 7. 6t reers to the additional satisa!tion or utility that a person re!ei$es rom !onsuming an additional unit o a good or ser$i!e, what is it& a. marginal bene)t b. marginal !ost !. so!ial !ost d. temporal dimension 8. #hat is the term being used to des!ribe the amount o an asset or resour!e that e*!eeds the portion that is utilied& a. 2!ar!ity b. 2hortage !. 2urplus d. #astage 9. #hat is the state o an employed person not ha$ing enough paid work or not doing work that makes ull use o their skills and abilities& a. unemployment b. employment !. underemployment d. po$erty ":. #hat is the term being used that states that the loss o potential gain rom other alternati$es when when one alternati$e is !hosen& a. opp oppo ortunity !o !ost b. kn knowledge !a !apital !. e* e*pli!it !o !ost d. te tempor poral di dimension

II% TR(E OR FALSE# #rite A i the statement is !orre!t !orre!t and ) i not. ". The 1aw o Demand states that, i all other a!tors remain e;ual, the higher the pri!e o a good, the less people will demand that good. '. The 1aw o 2upply demonstrates the ;uantities that will be sold at a !ertain pri!e. +. 6n 1aw o 2upply, produ!ers supply more at a higher pri!e be!ause selling a higher ;uantity at a higher pri!e in!reases re$enue. . Time is not important to supply be!ause suppliers must, but !annot always, rea!t ;ui!kly to a !hange in demand or pri!e. 4. #hen supply and demand are e;ual the e!onomy is said to be at e;uilibrium. 5. Dise;uilibrium o!!urs whene$er whene$er the pri!e or ;uantity is not e;ual to P< or =<. 7. E*!ess supply states that, i the pri!e is set too high, e*!ess supply will be !reated !reated within the e!onomy and there will be allo!ati$e ine%!ien!y. 8. E*!ess demand is !reated when pri!e is set abo$e the e;uilibrium pri!e. 9. >n the demand !ur$e, a mo$ement denotes a !hange in both pri!e and ;uantity demanded rom one point to another on the t he !ur$e. ":. ? shit in a demand or supply !ur$e o!!urs when a good@s ;uantity demanded or supplied !hanges e$en though pri!e remains the same.

III% IDENTIF*# Aame the graphs below and des!ribe it briey. /+pts ea!h0 +% $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

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I/% ESSA*# ?nswer the ollowing ;uestion briey. ". #hat is the role o edu!ation and training in the pursuit o e!onomi! prosperity& /4pts0

'. #hat are the impli!ations o slow adoption o modern te!hnology on the national e!onomy& /4pts0

+. The Pantawid Pamilyang Pilipino Program /ps0 is a !onditional !ash transer program that aims to alle$iate po$erty. Dis!uss the positi$e and negati$e sides o this poli!y and state and deend your position or this issue. /":pts0