Studied by 2 people
3 Macroeconomic Goals
full employment
economic growth
price stability
The 3 Macroeconomic goals are interrelated. (T or F)
T
The most desired macroeconomic goal
Economic growth
It is defined as the rise in the nation’s productive capacity over a period of time.
Economic Growth
A country is considered to be in a state a full employment if ___% or more of its labor force are employed.
95
It is a phenomenon created when workers constantly move from one company to another in order to find a better job.
Frictional unemployment
This develops when market prices, in general, hardly fluctate.
Price stability
A slight increase in prices boosts investments and supply and hardly impacts consumtion of goods and services. (T or F)
T
A low inflation rate is also known as
creeping inflation
A low inflation rate, also known as creeping inflation, indicates ___.
Price stability
A ___% or less inflation rate is creeping inflation, and it is good for the economy.
5
Investment 뜻--
투자
It is authentic if the country’s productivity rate is higher than its population growth rate.
Economic growth
If the country’s productivity rate is not higher than the population growth rate, the economy either ___ or ___.
Stagnates, retrogresses
This happens if economic growth is only as much as population growth.
Economic stagnation
It happens if population grows faster than the economy.
Economic retrogression
To society, growing economy means…
enhanced ability to provide for their needs
To busineses, growing economy means…
more demand for goods and services
To government, growing economy means…
more incomes and public goods
Economic growth and economic development are often used ___.
interchangeably
_____ is a short-term measure of economic performance.
Economic growth
_____ is economic growth sustained for a long period of time.
Economic development
This shows the ___
Production possibilities frontiers of a developing economy
It is the sustained increase in real production.
Economic development
Most commonly used indice to assess national development
HDI (human development index)
3 key dimensions of HDI
health
education
standard of living
4 indicator of HDI
life expectancy at birth
mean years of schooling
expected years of schooling
gross national income per capita
This diagrams the ___
HDI
Not all higly industrialized country have a favorable HDI. (T or F)
T
Countries with scores of 0.800 are classified by the United Nations Development Program as ____ in terms of human development.
very high
Countries with scores of ___ are classified by the United Nations Development Program as “very high” in terms of human development.
0.800
The factors that affect economic growth and development could be clustered into 2 categories: ___ and ___.
economic, non-economic
Economic factors:
human resources
physical capital
natural resources
technology
Non economic factors:
peace and order situation
political stability
geographical location
lots of legal limitations
Countries with high crime rates, unstable government, and lost of legal restrictions will be attractive to investors. (T or F)
F
It represents the collective long-term vision and aspirations of the Filipino people for themselves and for the country in the next 25 years.
AmBisyonNatin 2040
Ambisyon natin was crafted in ___.
2015
3 aspirations from ambisyon natin 2040
Matatag (Filipinos are strongly rooted)
Maginhawa (Filipinos are comfortable)
Panatag (Filipinos are secure)
Note
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