Midterm HM1K

Applied Economics is use in dealing with real life choices.

• True

• False

It is use to forecast the market condition.

• Normative Economics

• Applied Economics

• Positive Economics

• Negative Economics

The government should increase the minimum wage to ensure a fair standard of living for workers.

• Applied Economics

• Normative Economics

• Positive Economics

• All of the above

A rise in money supply tends to increase inflation in the long run

• Applied Economics

• Normative Economics

• Positive Economics

• None of the above

Gia is an OFW working in Singapore, the remittance coming from her is an example of ________.

• Gross National Product

• Gross Domestic Product

• Gross National Income

• Gross Domestic Income

It is use to measure Philippine's economic strength.

• Gross National Product

• Gross Domestic Product

• Gross National Income

• All of the above

It is use to identify the living standards and welfare of Filipinos.

• Gross National Product

• Gross Domestic Product

• Gross National Income

• Gross Domestic Income

Cha is an American Citizen, who went back to Manila for a family reunion. She spends a lot money with her relatives. This spending will fall under __________?

• Gross National Income

• Gross Domestic Income

• Gross National Product

• Gross National Product

GDP is measure with 3years.

• True

• False

A Japanese-owned car factory in Laguna is included in Gross National Income

• True

• False