POST TEST

UP-IBALON PADUNUNGAN
FORMULA FOR
GROSS
NATIONAL
INCOME
 The author of
Banaag and Sikat
persistent high inflation
combined with high
unemployment and stagnant
demand in a country's economy.
What does
MATATAG stands
for?
How many
cases for
gadon?
The United States
bought Alaska
from which
country?
Which of the following is
the same as a monarchy?

Dictatorship
Parliamentary government
Anarchy
Aristocracy
Totalitarian government is one
extreme type of government.
Which of the following is at
the other end of the political
spectrum?

Dictatorship
Parliamentary government
Anarchy
Aristocracy
The flag of the Philippines is
flown differently to reflect the
state of the country. When the
blue side is up, it’s a sign of
peace. Which state is the
country in when the flag is
flying red-side up?
. In which of the following countries would
you expect material lifestyles to be most
like those in the United States?
a. Nigeria.
b. Japan.
c. India.
d. Mali.
What is the difference
between parliamentary and
presidential democracy?

Election of the executive

branch
Election of the legislature
The court system
Extent of government power
Who is the
author of the
short story
“Dead Stars”?
What is the title of Nick Joaquin’s most
famous play?
What is the title of
the play written by
Aurelio Tolentino
that is considered
as the first Tagalog
play?
 WHO
INTRODUCE
D
COCKFIGHTI
NG TO
FILIPINOS?
FOLKDANCE OF
BICOLANOS
Name three
functions of
money
FATHER OF FREE
VERSE POETRY IN
PHILIPPINE
LITERATURE
: What was the name of
the series of programs
and projects President
Franklin D. Roosevelt
enacted during The Great
Depression?
Easily earning her social
work merit badge, Josefa
Llanes Escoda founded
the Philippines branch of
what youth organization?
Which of the following characteristics are
most likely found in developing countries?
a. high population growth rates.
b. large number of people living in poverty.
c. very traditional methods of agricultural
production.
d. all of the above
e. none of the above
Which four presidents
are on Mount
Rushmore?
UNCTAD
What country has the
highest life
expectancy?
Who is the author
of the novel
“Bata, Bata…
Pa’no Ka
Ginawa?”?
The hero Beowulf faces a monster
known by this name.
a) Hrothgar

b) Grendel

c) Heorot

d) Minotaur
Mark Twain’s beloved characters
Tom Sawyer and Huckleberry Finn
reside in which state?
a) Alabama

b) Missouri

c) Mississippi

d) Tennessee
What was the first
state to legalize same-
sex marriage?
What is
considered the
largest empire
in history?
What was the code
name for the
German invasion of
the Soviet Union
during World War
II?
What was the name of the
Ukrainian nuclear power plant
that was the site of a nuclear
disaster in April 1986?
Originating from a Filipino
Tagalog word meaning
“mountain”, what colloquial
American word typically refers
to remote rural area and is the
title of a comic strip and mid-
2000s Adult Swim animated
series created by African
American illustrator Aaron
McGruder?
Akin to Naga, Rahu, and Ketu of
Hindu-Buddhist mythology, what "B"
is the name of the serpent-like
dragon in Philippine mythology that
is believed to be the cause of
eclipses, earthquakes, rains, and
wind?
Which of the
Spratly Islands is
home to the
smallest village in
the Philippines?
Perestroika in the Soviet
Union refers to
a. total market reliance for
resource allocation.
b. economic restructuring by
Gorbachev.
c. intensified central
planning.
d. none of the above.
Who is the heroine of Nathaniel
Hawthorne’s The Scarlet
Letter?
a) Anne Hutchinson

b) Emily Shelby

c) Agnes Grey

d) Hester Prynne
The ‘Almagest’ is a
book written by a
Greek Astronomer.
What is the name of
him?
Which short story writer
and playwright composed
the works The Cherry
Orchard and The Three
Sisters?
Utilitarianism is
written by a
philosopher of
the 19th century.
What is his
name?
Who was the
first African
American
Supreme Court
Justice?
As economic development
proceeds, income inequality tends to
follow a(n) __________ curve
a. convex.
b. inverted U-shaped.
c. L-shaped.
d. S-Shaped.
State owned enterprises
(SOEs) are also called
a. centralized firms.
b. government oligopolies.
c. market economies.
d. public enterprises.
Which of the following is NOT true about external
debt?
a. External debt accumulates with international
balance on goods, services, and income
deficits.
b. When debts are denominated in U.S. dollars,
their appreciation during the 1980s and
1990s increased the cost of servicing such
debts.
c. In the 1990s LDCs relied increasingly on aid
from DCs.
d. International lenders required LDC governments
to guarantee private debt.
If GDP for Barbados is $260 million in
2005 and its population is 260, 000,
GDP per capita is
a. 1000
b. 260
c. 0.001
d. 259740
If GDP for Maldives is $435 million in
2002 and the GDP per capita is
$1576.087, the population of the
country must be
a. 276,000
b. 1576.086
c. 0.276
d. 3.623
One classification of development levels used by
the World Bank divides countries into three
group on the basis of GNP per capita. They are
a. NIC, OPEC and G7
b. Low-income, middle-income and high-income
c. Southeast, Northeast and Southwest
d. Asia, America and Europe
Which of the following is not a problem in comparing
developed and developing countries’ GNP?
a. GNP is understated for developed countries, since a
number of items included in
their national incomes are intermediate goods
b. The economic contribution of a housewife in a peasant
family may not be measured in
GNP in poor country.
c. GNP is understated for developing countries since many of
their labor-intensive good
have no impact on exchange rate since they are not traded.
d. GNP is overstated for countries where the price of foreign
exchange is less than market
clearing price.
Keiretsu refers to
a. groups of affiliated companies
loosely organized around a large bank.
b. horizontal manufacturing groups
consisting of a core company and its
partners.
c. state assisted entrepreneurs.
d. financial cliques.
A country’s capital stock is the
a. approximated investment minus
actual investment.
b. inflow of investment from abroad.
c. sum of previous gross investment
minus depreciation.
d. difference between GDP and
capital consumption.
According to Lewis’s model, the dual economy
grows only when
a. the modern sector increases its output share
relative to the traditional sector.
b. agricultural sector uses modern equipment.
c. agricultural sector hires labor economically.
d. modern manufacturing sector is labor-
intensive.
Assume that the real income of a
developing Island increases from $120,000
to $160,000 from 2005 to 2006, while its
population expands from 1000 to 1100
during the same period. Real income per
capita has increased by about
a. $145.
b. $40,000.
c. $25.
d. $100.
Increases in real GNP per capita occur
when
a. government programs direct resources
away from investment goods to consumer
goods.
b. tariffs and quotas prevent countries from
trading and thus prevent dollars from
leaving each country.
c. the rate of growth in real GNP is greater
than the rate of growth in the population.
d. the level of consumption expenditures
rises relative to the level of saving.
One criticism of Rostow's theory of
economic growth is that
a. much available data contradicts his
thesis about the takeoff stage.
b. there is no explanation of why growth
occurs after takeoff.
c. his hypothesis of the stages of growth is
difficult to test empirically.
d. all of the above are correct.
According to the supply side of the vicious
circle theory of development, a country is
poor because
a. technology levels do not allow for self-
sufficiency.
b. it was previously too poor to save and
invest.
c. underemployment is too widespread.
d. resource allocation is poor.
The vicious circle theory states that
a. growing government assistance create
addiction to welfare programs.
b. low income levels create pressure for
money creation.
c. low income levels create pressure for
cheap imports.
d. low per capita income creates low
savings that keep incomes low.
Rostow's economic stages are
a. the preconditions for takeoff, the takeoff,
the drive to maturity, and the age of
creative
destruction.
b. the traditional society, the preconditions
for takeoff, the takeoff, the drive to maturity,
and the age of high mass consumption.
c. the preconditions for consumption, the
replication, the drive to maturity, and the
age of
high mass consumption.
d. the learning curve, the age of high mass
consumption, post-takeoff, and the drive to
maturity.
Sen's welfare theory relies on
a. individuals' accomplishments.
b. individuals' capabilities.
c. individuals' wealth.
d. individuals' education.
The Lorenz curve shows
a. patterns of poverty between developed
and developing countries.
b. the change in GDP per capita over time.
c. the poorest’s income shares fall in the
early stages of growth.
d. income concentration relative to a 45-
degree line.
Throughout most of humankind’s
existence, population grew at a rate of
_________ per year.
a. 10%.
b. 0.002%.
c. 2%.
d. 0.5%.
Malthus's theory was that population
a. increased proportionally to economic
growth.
b. increased geometrically, outstripping
food supply, which grew arithmetically
c. increased stagnantly with food supply
and economic development.
d. increased disproportionately, surpassing
agricultural production.
In a production function Y = F(L,K,N,E,T),
Y is
a. national product.
b. capital.
c. natural resources.
d. prevailing technology.
Which of the following is not a capital
good?
a. plant and equipment.
b. buildings.
c. inventories.
d. consumer goods.
The unemployment rate is the
a. employed plus unemployed divided by
labor force.
b. total employment divided by population.
c. labor force divided by population.
d. unemployed divided by employed.
The Keynesian remedy for unemployment
is to
a. decrease aggregate demand.
b. reduce tax rates or lower interest rates.
c. decrease government spending.
d. decrease private consumption and
investment.
The marginal product model assumes that
a. individuals pay the full cost of their
education.
b. government subsidizes schooling.
c. educated persons migrate more.
d. capital and unskilled labor are
complements.
Simon S. Kuznets argues that the major
stock of an economically advanced country
is not its physical capital but
a. natural resources.
b. body of knowledge.
c. land.
d. quantity of labor
An example of external diseconomies is
a. scholarship for technical education.
b. R&D in robotics.
c. a new drug to cure AIDS.
d. environmental pollution.
According to Weber’s thesis
a. Protestants disapproved of accumulating
wealth.
b. Protestants failed to restrict
extravagance and conspicuous
consumption.
c. Roman Catholicism expressed its
asceticism in a secular vocation.
d. capitalism was most advanced in
Protestant countries.
Monopoly advantage is usually the result of
greater opportunities such as
I access to more economic information
than competitors.
II superior access to training and
education.
III a lower discount of future earnings.
IV larger firm size.
a. I and II only.
b. II and III only.
c. I, II and III only.
d. I, II, III and IV.
Joseph Schumpeter is the exceptional
economist who links the entrepreneur to
a. oligopolistic capitalism.
b. resource management.
c. innovation.
d. land and labor.
Michael Roemer's three sector model
shows that growth in the booming export
sector
I reduces the price of foreign exchange.
II retards other sectors' growth by
reducing incentives to export other
commodities.
III reduces incentives to replace domestic
goods for imports.
IV raises factor and input prices for non-
booming sectors.
a. I and II only.
b. II and III only.
c. I, II and III only.
d. I, II, III and IV.
The greenhouse effect is the phenomenon
by which
a. biological diversity is dominant in
agricultural production.
b. the globe’s water pollution affects
plankton.
c. the earth's atmosphere traps infrared
radiation.
d. climatic changes occur naturally in the
forest.
Monetary policy affects the ________ and
________.
a. reserve, unemployment.
b. money supply, interest rate.
c. taxes, exchange rate.
d. stock price, minimum wage.
By using fiscal policy, i.e. varying
________ and/or ___________,
governments achieve goals for output and
employment growth as well as price
stability.
a. demand-pull inflation, tax elasticity.
b. interest rates, financial liberalization
c. interest rates, tax rates.
d. tax rates, government spending.
If people with higher incomes pay a higher
percentage of income in taxes, the income
tax structure is
a. progressive.
b. regressive.
c. value-added taxes (VAT).
d. excise taxes.
Inflation is measured by the
I consumer price index (CPI).
II GDP deflator.
III current account.
IV depreciation.
a. I and II only.
b. I and III only.
c. III and IV only.
d. I, II and III.
During stagflation
I an increase in aggregate spending will
eliminate the recession.
II a decrease in aggregate spending will
reduce inflation.
III government faces contradictory goals.
IV the central bank decreases money
supply to reduce inflation.
a. I and II only.
b. III and IV only.
c. I, II and III only.
d. I, II, III and IV.
Which of the following are costs of
inflation?
I Inflation weakens the creation of credit
and capital markets.
II Inflation distorts business behavior,
especially investment behavior.
III Inflation increases the prices of foreign
goods relative to domestic goods.
IV Inflation imposes a tax on the holders of
money.
a. I and II only.
b. III and IV only.
c. I, II and IV only.
d. I, II and III only.
Demand pull inflation results from
a. demand for government spending on
public goods goes down due to lack of
financial backup through tax collection.
b. consumer, business, and government
demand for goods and services in excess
of an economy's capacity to produce.
c. a shortage of demand for good and
services in excess of supply during
depression.
d. demand for public goods is greater than
demand for consumer goods.
The IMF is an agency charged with
providing
a. technical assistance to stock market
and financial market problems.
b. loans for post-World War II
reconstruction.
c. short term credit for international
balance of payments deficits.
d. bonds denominated in U.S. dollars as a
loan to LDCs.
The balance on current account
I equals the absolute value of the
balance on capital account.
II is financed by savings.
III is net grants minus remittances.
IV includes goods, services, and unilateral
transfers.
a. I and II only.
b. II and III only.
c. I and IV only.
d. None of the above.
A country's total external debt (EDT)
includes
I short-term debt with a maturity of one
year or less.
II long-term debt with a maturity of more
than one year.
III repurchase obligations to the IMF.
IV public official development assistance.
a. I and II only.
b. III and IV only.
c. I, II and III only.
d. I, II and IV only.
The debt service ratio is the
a. long-term debt divided by GDP of a
country in a given year.
b. interest and principal payments divided
by exports of goods and services.
c. ratio of debt net of portfolio investment,
financing, and foreign direct investment.
d. default and reschedule debt minus
annual export revenues that must be
devoted to
paying interest.
Shortly after 1979, World Bank introduced
loans that emphasized reforms in trade,
agriculture, industry, public enterprise,
finance, energy, education, or other sectors
and were known as
a. structural adjustment loans.
b. sectoral adjustment loans.
c. internal adjustment loans.
d. external leverage loans.
The Baker plan (1985) stressed ______
and the Brady plan (1989) emphasized
_____ respectively
a. IMF decentralization; World Bank
dissolution.
b. new loans from multilateral agencies and
surplus countries; debt reduction or
writedowns.
c. structural adjustment loans for LDCs
experiencing unanticipated external
shocks; renewed emphases on
macroeconomic stabilization programs.
d. debt relief for at least three-fourths of the
eligible HIPCs; shorter requirements for
adjustment programs.
The market efficiently allocates scarce
resources among alternative ends such
that
I consumers receive goods for which they
are willing to pay.
II production resources hire out to
maximize income.
III the market determines available labor
and capital.
IV the market distributes income among
rich individuals.
a. III and IV only.
b. II and III only.
c. I, II and III only.
d. I, II, III and IV.
S = Savings, I = domestic investment, X =
exports of goods and services, and M =
imports of goods and services.
Which of the following is true?
a. S - I = X - M.
b. S + I = X + M.
c. S = I - (X+M).
d. S-I = X /M.
Countries facing a persistent external
deficit can
I borrow overseas.
II increase trade restrictions and exchange
controls.
III undertake expansionary monetary and
fiscal policies.
IV undertake expenditure-reducing
policies.
a. I and II only.
b. III and IV only.
c. I, II and III only.
d. I, II and IV only.
What is the name of the island Napoleon
was exiled to?
What was the name of the Philippine
national hero who was known as the
“Heroine of Jaro”?
What was the name of the Philippine
president who was the first Muslim to hold
the office?
What was the name of the Philippine
national hero who was a revolutionary
general and politician during the Philippine
Revolution and the Philippine-American
War?
A Brief History of Time’ is a famous book
written in 1988. Who is its author?
Ozymandias” and “Ode to the West Wind”
are two widely read poems of which poet?
Who ended his writing career with ‘The
Last Tycoon’?
Who is the author of “The Napoleon of
Netting Hill”?
Which country was not part of the Triple
Entente?
Which book was written by Hitler while in
prison in the 1920s?
Who invented the steam engine?
What was the first
Nazi concentration
camp?