Economics

Topics: Economics, Economy, Economic system Pages: 3 (599 words) Published: August 9, 2014
1. Below is a list of topics in usually studied in
economics. Determine whether each topic deals under
the area of microeconomics or macroeconomics.
a. How Bangko Sentral ng Pilipinas influences the
consumer spending in the Philippines.
b. How a household decides what LPG brand to buy.
c. How a firm decides whether to continue business or
shutdown.
d. How debt affects the income gap among Filipinos.
e. How new parents decide whether to work or stay at
home with their children.
f. How the Aquino administration attracts foreign
direct investments.
g. How banks implements lower interest rates on car
loans.
h. How the Department of Finance creates new
policies on collecting more revenue from BIR and
BOC.
i. How a new entrant to the labor force decides
whether to work in a private firm or a government
office.
j. How the government addresses the issue of urban
and rural poverty.

2. Identify the economic system that each item below
characterizes.
a. Price system allocates the resources.
b. A central authority makes all the economic
decisions.
c. There is competition among the producers.
d. A master economic plan is being followed.
e. The government does not intervene in the economy.
f. All resources, goods and services, are privately
owned.
g. If the government fails, then the economic system
will fail.
h. An authority does all the economic decision
making.
i. Goods and services are voluntarily exchanged.
j. Some markets are free and some are regulated.
k. Individuals are motivated by economic incentives.
l. A central authority determines how resources are
allocated.
m. The vulnerable sectors have no protection.

3. Determine whether each statement below is Positive
or Normative.
a. The Congress should approve the Freedom of
Information Bill for transparency.
b. Total Factor Productivity increased last quarter.
c. The level of unemployment rate in this country is
normal.
d. The administration of President Aquino has...
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