The following are currently categorized as communist countries, except:

This economic decision addresses the tendency of overprotection.

The concept of opportunity costs refers to the following except:

Who is the current (Aquino Administration) Secretary of the Department of Agrarian Reform?

The shift in the production possibilities frontier results from:

This is an economic system driven by purely self-interest of consumers and producers

Which of the following are two fundamental conflicting problems, the reason why economist exist?

What is the probable opportunity cost of increasing three times the budget of the Agriculture sector than the previous year?

The following are perceived to be more beneficial, except:

Which economy has an absolute advantage in sugarcane production?

William of Ockman introduced this important economic principle:

An economic concept that utilizes available resources to its best and efficient use.

It refers to the tabular representation of the relationship between price and quantity demanded.

If there is a negative relationship between the price of good X and the demand for good Y, then:

Commodities whose demand varies directly with money income refers to:

Which of the following is least likely to have an elastic demand?

Which of the following would make the demand for a product elastic?

The stage of production which is considered to be rational stage of production:

The addition to total output resulting from employing an additional unit of resource is:

Marginal cost and average cost are related in this way:

These are actual costs or “out of pocket” expenses incurred in the production of goods and services:

If he has incurred a total fixed cost of P5, 000.00, how much is his average fixed cost per sack?

Economies and diseconomies of scale occur mainly because:

In the Philippines, national income is done and maintained by what office/agency?

. Economists prefer to use real GNP than current or nominal GNP as a measure of aggregate output because

Suppose the Nominal GDP in 2009 was 500 billion pesos and the CPI was 125, then the real GDP must be:

The consumption function/equation C = 20 + .90 Yd predicts that consumption is:

Based from # 16, if C = 20 + .90Yd, the equation saving function is:

The equilibrium level of income (Y) is:

The value of the multiplier is:

Fiscal policies are government policies related to:

The bulk of government spending is a accounted for by

By open market operations we mean the actions of the government to:

This is a phase in the business cycle when economic prosperity is experienced

A field in international economics which focuses on real transactions that involve a physical movement of goods or a tangible commitment of economic revenues is:

The economic framework which has been defined by GATT-WTO calls for the expansion and stabilization of world trade through the following except one:

These are taxes imposed as a fraction of the value of the imported goods (i.e. 20% of theimportant value)

As a result of tariff imposition, the imposing country suffers from efficiency losses which include the following:

Trade liberalization is the result of the following except one:

The following are forms of trade restrictions except one:

The expenditures of the domestic economy on imported goods are called:

When a country engages in international transactions, it always involves at least two kinds of currencies. The value of domestic currency relative to the foreign currency is called:

The fixed exchange rate, on the other hand is determined by:

When the Central Bank of the Philippines devaluates its currency against the US dollar, it means that

The opposite of devaluation is called:

When the Philippine currency depreciates against the US dollar due to forces of supply and demand, it means that:

The opposite of depreciation is called:

When evaluation or depreciation occurs, it means that:

When the exchange rate (P/S) increases, the value of the peso relative to the dollar becomes:

It is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another