Name:___________________________________________________ Score _____________________ Course and Section ________________________________________ Date ______________________ Problem:
A. Describe your potential opportunity cost given the listed decision that you have made ___________________________ 1. Attending your Economics class for today _____________________________ 2. Spending 2 hours of your vacant period in the canteen with your friends ____________________________ 3. Spending your P500.00 for a gift you gave to a friend _____________________________________________ 4. Going on a vacation in your mother’s hometown _________________________ B. Identify whether the statement is an outcome of positive or normative economic analysis 1. The Philippine economy attained 4% growth in 2011.
2. Education must be the top priority of the government.
3. Non-traditional politicians are most likely to win in the election, hence, economic growth is expected. 4. The Philippine exchange rate for a dollar decreases from P45 to P41.50. 5. A good leader should inculcate nationalism to attain growth in the country. C. Indicate whether the following events are concerns of macroeconomics or microeconomics. 1. The level of government spending
2. A grant given by the government to the textile industry
3. The price of rice increases
4. The continuous increase in inflation rate
5. The oil deregulation program
GRAPHICAL ANALYSIS: Given the Production Possibilities Curve for s hypothetical economy, which production points A, B, C, D, F represents the following situations. Qx
(Note: ung A,B,C,D,F ung Malabo po jan ay un ung corresponding dots sensya na malabo ) 1. The economy uses all its available inputs in the production of good Y. 2. The economy has not maximized the use of its productive inputs. 3. The economy has decided to...
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