It measures products only produced domestically.

Includes the elements of foreign income by domestic citizens, wherever they are living, as well.

McJollyMe earned ₱167 million in the Philippines at the end of 2019. This falls under the:

Mango Inc. is a multinational electronics corporation established in the Philippines. It earned a total of $143 billion at the end of 2021 from all of its branches from around the world.

Glenn works as a head chef in a 4-star restaurant in Dubai. He earns ₱2.5 million a year and sends a portion of his monthly salary to his family in the Philippines.

Mega Stop is a multinational company which established numerous branches throughout the Philippines. It had an annual sales of ₱67 million by the end of 2016.

The leading agency that measures the economic performance of the country.

The purchase of goods and services, which include public consumption and public investment, and transfer payments.

Household expenses for food, clothing, housing, cars, water, and electricity.

It is the difference of the total value of merchandise exports and the total value of merchandise imports.

A good or service purchased with the intent of reselling or further processing.

A good or service purchased by the ultimate user which is NOT intended for reselling or further processing.

It is an approach in measuring GNP where the contribution of each sector of agriculture, industry and services are computed. It is also known as Value-Added Approach.

It is the sum of government expenditures, personal expenditures, business expenditures, net export, net factor income from abroad and statistical discrepancy. It is basically the same as GDP.

It is an approach in measuring GNP by first finding the value of National Income, then adding Capital Consumption Allowance and Indirect Business Tax.

The National Income is the sum of the values of Compensation for Employees, Entrepreneurial Income, Corporate Income and Government Income. Which of the following best describes Entrepreneurial Income?

Which of the following descriptions differentiates Corporate Income from Entrepreneurial Income?

Income earned from estate taxes, corporate taxes, personal income taxes and state-owned corporations are all accounted to:

Which among the following choices describes Consumer Price Index?

It is the rate of increase in prices over a given period of time and typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.

Prices are continuously increasing every hour, day, and week.

Mandatory increase in wages, increased cost of raw materials, breakdown or damage to machineries.

Sectors desired to buy products and services more than the available supply in the market.

It is inflation that results from changes in government policies such as tax reforms.

Businessmen resort to imported goods instead of locally made products. As a result we have lesser but more expensive goods in the market.

The hoarding of goods which causes inflation happens when the market is controlled by a monopolist or cartel.

Our country has a huge debt from the World Bank-International Monetary Fund. A part of the national budget is intended for the payment of foreign loans.

People who benefit from inflation, except of one:

People who are hurt from inflation, except one:

It is the amount a buyer pays for the product he or she purchases from the market.

It is commonly known as the people's take home pay. It is the worker's salary minus his or her personal income tax.

A measure of how well a country has performed not only in terms of real income growth but also in terms of social indicator.

It actually means calculating the market value of the product more than once and is avoided by economists to make more accurate computations in the economy.

Under this types of Personal Consumption Expenditures include furniture, cars and appliances.

Under this types of Personal Consumption Expenditures include food, toiletries, and clothes

Household utilities, such as telephone, water, and electricity.

These are taxes on sales or purchases of products such as value added tax (VAT).

What is the meaning of the acronym NFIA?

There is a scarcity of supply of timber causing wood manufacturers to increase their prices. This is an example of:

The government implemented a new economic policy which aims to double the tax for tobacco related products.

Toy manufacturers are forced to increase the prices of toys due to increasing production costs.

What could happen to workers when there is a constant increase in prices for a long period of time?

Which among the following can be an effect of unemployment to workers?

The following choices below can be the effects of unemployment to the economy except:

What does the cartoon want to imply?

The total weighted price for the year 2019 is ₱1,898 and ₱1,935 for year 2020. Find the consumer price index for year 2020 using the formula: $$CPI=\frac{total\ weighted\ price\ of\ current\ year}{total\ weighted\ price\ of\ base\ year}\times100$$  

The CPI for 2020 is 101.95 while the CPI for 2019 is 100.19. Find the inflation rate using the formula: $$IR=\frac{CPI\ year\ 2-CPI\ year\ 1}{CPI\ year\ 1}\times100$$  

The total weighted price for 2014 is ₱2,968 and ₱3,091 for 2015. Find the consumer price index. $$CPI=\frac{total\ weighted\ price\ of\ current\ year}{total\ weighted\ price\ of\ base\ year}\times100$$  

The CPI for 2014 is 102.69 while the CPI for 2015 is 104.14. Find the inflation rate. $$IR=\frac{CPI\ year\ 2-CPI\ year\ 1}{CPI\ year\ 1}\times100$$