Q3 SOC SCI QE chapter 12

3 Macroeconomic Goals

1. full employment
2. economic growth
3. 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

1. health
2. education
3. standard of living

4 indicator of HDI

1. life expectancy at birth
2. mean years of schooling
3. expected years of schooling
4. 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:

1. human resources
2. physical capital
3. natural resources
4. technology

Non economic factors:

1. peace and order situation
2. political stability
3. geographical location
4. 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

1. Matatag (Filipinos are strongly rooted)
2. Maginhawa (Filipinos are comfortable)
3. Panatag (Filipinos are secure)