Prelim Quiz on Monetary and Fiscal Economics

What is the central bank of the Philippines?

• Bangko Sentral ng Pilipinas (BSP)

• Philippine National Bank (PNB)

• Development Bank of the Philippines (DBP)

• Land Bank of the Philippines (LBP)

What is the primary objective of the Bangko Sentral ng Pilipinas (BSP)?

• To maximize profits for the government

• To promote economic growth and social justice

• To control the country's foreign exchange reserves

• To regulate the stock market

Which of the following is NOT an element of the financial system?

• Financial claims

• Financial institutions

• Financial markets

• Financial products

What is the function of financial institutions?

• To match the supply and demand for funds

• To provide investment advice

• To regulate the financial markets

• To issue government bonds

What were the first credit institutions established in the Philippines?

• Obras Pias

• Rural banks

• Commercial banks

• Savings banks

What was the name of the first bank established in the Philippines?

• Banco Espanol-Filipino de Isabela II

• Bank of the Philippine Islands

• Philippine National Bank

• Monte de Piedad

What event led to the expansion of Philippine trade in 1869?

• The opening of the Suez Canal

• The arrival of the Americans

• The establishment of the Banco Espanol-Filipino

• The founding of the Chartered Bank of India, Australia, and China

Which country dominated the Philippine economy during the Spanish colonial rule?

• Spain

• Great Britain

• United States

• China

What law provided for 'free trade' between the United States and the Philippines in 1902?

• Payne-Aldrich Act

• Treaty of Paris

• Jones Law

• Tydings-McDuffie Act

What was the name of the first savings bank in the Philippines?

• Monte de Piedad

• Banco Espanol-Filipino de Isabela II

• Philippine National Bank

• Postal Savings Bank