Economic Planning

1. Food Sufficiency in a Locality

Volume of production

Crop Productivity

Sufficiency Level

Annual Food Threshold

Demand for food crop

Submit

2. Economic Growth vs. EconomicDevelopment

Economic Growth

Economic Development

Submit

3. Todaro 3 cores of Development & it's objective

sustenance

self esteem

freedom from servitude

Submit

4. Local Economy –Inflows and Outflows

Exports

Import

Submit

5. The Six (6) M's – Dr. Michael Porter except one

MICROECONOMICS

MATERIALS

MANPOWER

MACHINE

MARKETS

MANAGEMENT

MONEY

6. Traditional Economic Measures

Gross domestic product (GDP)

Gross national product (GNP)

Submit

7. An increase in leisure is an increase in social welfare, but not counted in GDP/GNP.Increased leisure is believed to lead to better health while increased worktime meansmore illness. But GDP places no value on leisure.

True

False

8. Industries Classification based on degree ofHazard and Pollution*Updated by Republic Act 9501 (Magna Carta for Micro, Small, and MediumEnterprises), May 23, 2008

HEAVY

MEDIUM

LIGHT

Submit

9. By this method, the variations in the flow of goods fromone industry to another can be graphicallydemonstrated. Economists use his method to analyze,plan, and predict economic growth.

Input‐Output Model

Output-Input Model

Constant share

Linear analysis

(WassilyW. Leontief)

Explanation

(WassilyW. Leontief)

10.

Bonus just for info

Option 2

Option 3

Option 4

11. Theoretically, "3% GDP growth rate affects less than 1% of population at the bottom." Much ofgrowth is already captured by people upstream, i.e. those already well‐positioned and with competitive advantage to corner its benefits.Contrary to neo‐classical and neo‐liberal economics, "Growth" statistics do not automatically ________ to affect lives of ordinary people.

Trickle down

Settle down

Buckle down

Proportionally

12. An index of income distribution in an economy, expressed as afraction, that indicates the level of inequality between incomes. The higher thefraction, the greater the inequality of incomes.

Gini coefficient

Lorenz curve

Location Qoutient

All of the choices

Named after Italian statistician Conrado Gini (1884‐1965)

Explanation

Named after Italian statistician Conrado Gini (1884‐1965)

13. Basic Concepts of Poverty:Poverty Severity meaning

All of the choices

This is equal to the Foster‐Greer‐Thorbecke (FGT) family ofmeasures with alpha= 2.

14. Assumptions of Input/Output Model

All of the choices

Each industry produces only one homogenouscommodity

Each industry uses a fixed input ratio

Production in every industry is subject to constantreturns to scale

15.

Bonus just for info

Option 2

Option 3

Option 4

16. Reality: "Human wants" is LIMITED BUT resources are unlimited.Hence, the need to decide on WHAT to produce, HOW and WHo gets

True

False

Reality: “Human wants” is UNLIMITED BUT resources are limited/scarce.Hence, the need to decide on WHAT to produce, HOW and WHo gets

Explanation

Reality: “Human wants” is UNLIMITED BUT resources are limited/scarce.Hence, the need to decide on WHAT to produce, HOW and WHo gets

17. What type of GDP approach is this?sums up the 'value added' at each stage of production, or take the valueof final sales.

Income approach

Expenditure approach

Production approach

None of the choices

18. There can not be development without growth. Growth is a preconditionto development, but not sufficient by itself

Albert Hirschman

Amartya Sen

Michael Todaro

Michael Porter

19. "Development is a multi‐dimensional process involving steady or acceleratedeconomic growth, reduction of unemployment and reduction of inequality,the eradication of poverty as well as changes in social structures, popularattitudes, and national institutions."

Albert Hirschman

Amartya Sen

Michael Todaro

Michael Porter

20. Traditional Economic Measures,Concepts formulated by Dr. Simon Kuznets,System of National Accounts: Measures of Economic Growth

GDP/GNP

NIA

OFW remittance

None of the choices

21. Classification of Firms/Enterprisesless than 10 workers with not more than 3Mcapitalization assets

Medium ScaleEnterprise

Small Scale Enterprise

Micro Scale Enterprise

Cottage

22. GDP doesn't account for population growth – a GDP growth of 4.5% for apopulation growth of 4.5% is nothing to crow about because it is virtuallyZERO.

True

False

23. An increase in the amount of basic activity in a region will decrease the flow ofincome into the region Resulting to: increase in the demand for goods and services within it andeffecting a corresponding increase in the volume of non‐basic activity

True

False

An increase in the amount of basic activity in a region will INCREASE the flow of
income into the region
 Resulting to: increase in the demand for goods and services within it and
effecting a corresponding increase in the volume of non‐basic activity

Explanation

An increase in the amount of basic activity in a region will INCREASE the flow of
income into the region
 Resulting to: increase in the demand for goods and services within it and
effecting a corresponding increase in the volume of non‐basic activity

24. Human Development Index (HDI) except one

Tourism(recreational index)

Health/Longevity (Life Expectancy Index)

Knowledge (Education Index)

Standard of Living (Income Index)

25. The denominator in the LQ is

Is the percentage of employment of industry X withrespect to the total local economy

Is the percentage of employment in industry Xwith respect to a larger reference unit

All of the choices

None of the choices

26. Three approaches(SNA) used in GDP

Expedinture/income/production approach

Expedinture/protection/production approach

Export/income/production approach

NIA/income/production approach

27. Economic Sector Analysis Activity Forecasting tools or variables in monetary unit except one

None of the choices

Growth Method (Compounded)

Per Capita Method

RegressionMethod

28. What type of GDP approach is this?Gross Domestic Product = national income + depreciation (about 12%) + (indirect taxes –subsidies) + net factor payments to the rest of the world + other = Net Domestic Product (NDP) = Net National Income (NNI)

Income approach

Expenditure approach

Production approach

None of the choices

29. GDP (expenditure approach) Y = C + I + G + (EX-IM)Consumption,C (durable goods + non-durable goods + services) + gross private domesticInvestment, I (business structures + business equipment + new housing+ change in inventories) + localand national Government expenditure, G (consumption + investment)+ Net exports (exports- imports)

Expenditure approach

Production approach

Income approach

All of the choices

30. Is the condition of people after thepie has been consumed

ECONOMIC DEVELOPMENT

ECONOMIC GROWTH

Economy

Growth

31. refers to theprocess in which local governments orcommunity‐based organizations engage tostimulate or maintain business activity and/oremployment

Local Economic Development

Local economy

Economic development

Economic growth

32. Data / Information for LED except one

Infrastructure

LGU income and employment analysis

Unemployment and skills

Demography

33. Classification of Firms/Enterprises10‐99 employees with P3M‐15M capitalization assets

Medium ScaleEnterprise

Small Scale Enterprise

Micro Scale Enterprise

Cottage

34. Only market activity is included in GDP. Nonmarket and household activities (outputsof a housewife) are not counted in GDP even though they amount to real production.

True

False

35. GDP accounting rules do not adjust for production that pollutes or damages theenvironment.– Neglect for depletion of natural resources– Failure to account for effects of environmental degradation

True

False

36. Millennium Development Goals except one

Public Private Partnership

Eradicate extreme poverty and hunger

Achieve universal primary education

Promote gender equality and empower women

Reduce child mortality

Improve maternal health

Combat HIV/AIDS, malaria and other diseases

Ensure environmental sustainability

Develop a global partnership for development

37. The numerator in the LQ

Is the percentage of employment of industry X withrespect to the total local economy

Is the percentage of employment in industry Xwith respect to a larger reference unit

All of the choices

None of the choices

38. FACTORS OFPRODUCTION except one

Property

Land

Labor

.Capital

Technology

39. Ranges in value from 1 (perfect equality) to 0 (perfect inequality)

True

False

Ranges in value from 0 (perfect equality) to 1 (perfect inequality)

Explanation

Ranges in value from 0 (perfect equality) to 1 (perfect inequality)

40. EXPORT Industries are referred to as the "basic sector" (or the economic base)and IMPORT Industries are referred to as "non‐basic" sector

True

False

EXPORT Industries are referred to as the “basic sector” (or the economic base)
and NON‐EXPORT Industries are referred to as “non‐basic” sector

Explanation

EXPORT Industries are referred to as the “basic sector” (or the economic base)
and NON‐EXPORT Industries are referred to as “non‐basic” sector

41. By the term final goods and services, GDP ignores all transactions inwhich money or goods change hands but in which no new goods andservices are produced, does include transfer payments, subsidies,OFW remittances.

True

False

By the term final goods and services, GDP ignores all transactions in
which money or goods change hands but in which no new goods and
services are produced, does NOT include transfer payments, subsidies,
OFW remittances.

Explanation

By the term final goods and services, GDP ignores all transactions in
which money or goods change hands but in which no new goods and
services are produced, does NOT include transfer payments, subsidies,
OFW remittances.

42. Enacted by the Philippine Congress in 1991 as RA 6977, amended by Republic Act 8289 in 1997, and further amended by _____ in 2008, the law is geared towards the development of the Filipino entrepreneurial spirit by providing a business environment conducive for MSMEs.

RA 8289.

RA 9501

RA 8829

RA 9828

43. Dimensions of Economic Development except one

Utilities

Labor force

Infrastructure

Business and community facilities

Tourism and tourist facilities

Environment

Economic structure

Institutional capacity

44. Annual Food Threshold

Per capita per day food cost x 365 days

Per food per day capita cost x 365 days

Per capita per day food cost x 7 days

45. "There can be "economic growth" without "development," suchas when the trickle-down mechanisms fail.

Albert Hirschman

Amartya Sen

Michael Todaro

Michael Porter

46. Is about enhancing the factors of productive capacity of a national, regional or localeconomy

Economic development

Economic planning

Economic growth

Economic structure

47. The total incomeearned by the factors of productionowned by a country's citizens

National income

GDP

GNP

NIA

48. Classification of Firms/EnterprisesLarge Scale Enterprise

200 or more employees Above P100MEnterprise

200 or more employees Above P200M

100 or more employees Above P100M

200 or more employees Above P300M

49. If LQ > 1, basic; LQ < 1, non‐basic

True

False

50. is defined as the goods andservices that each industry buys from all the otherindustries, _ as the products industry sells to theothers.

Input/Output

Output/Input

Export/Import

Import/export

51. Ecological costs such as government spending to address pollution are netted outof the GDP

True

False

Ecological costs such as government spending to address pollution are NOT netted out
of the GDP

Explanation

Ecological costs such as government spending to address pollution are NOT netted out
of the GDP

52. Poverty Gap meaning except one

Proportion offamilies/population whose annual per capita incomefalls below the annual per capita food/subsistencethreshold to the total number of families/population

It means the average percentage increase in total income ofpoor families needed to get them out of poverty.

Subsistence incidence: proportion of
families/population whose annual per capita income
falls below the annual per capita food/subsistence
threshold to the total number of families/population

Explanation

Subsistence incidence: proportion of
families/population whose annual per capita income
falls below the annual per capita food/subsistence
threshold to the total number of families/population

53. Classification of Firms/Enterprises100‐199 employees with P15M‐100M capitalization assets

Medium ScaleEnterprise

Small Scale Enterprise

Micro Scale Enterprise

Cottage

Cottage - not more than P1.5 M

Explanation

Cottage - not more than P1.5 M

54. The principal goal of local economicdevelopment is

To stimulate local employment opportunities in sectors thatimprove the community using existinghuman, natural, and institutional resources

Toincrease incomes, the number ofjobs, and the productivity ofresources in regions, provinces,cities, towns, and neighborhoods.

To meetbroad economic objectives include inflationcontrol, high employment and sustainablegrowth.

To provide servicesinclude building highways, managing parks andproviding medical access to the disadvantaged

55. Economic Base Theory (Klosterman) In economic base analysis, industries are split into two types

Export and non export

Export and import

Basic and intermediate sector

Import and non export

56. Economic Base Analysis In its simplest and original form, the "economic basemultiplier" (EBM) was calculated in terms of employmentBut could readily be computed also using income andother monetary values. Formula of EBM is

EBM = Total employment/Basic employment

EBM = employment/Basic employment

EBM = Basic employment/Total employment

None of the choices

57. Models and Tools

Economic Base

Economic Diversification

Submit

58. Components of Economic DevelopmentStrategy

LOCALITY DEVELOPMENT

BUSINESS DEVELOPMENT

HUMAN RESOURCE DEVELOPMENT

COMMUNITY‐BASED EMPLOYMENT

Submit

59. Sectors of the Economy

Primary

Secondary

Tertiary

Quaternary Services

Quinary Services

Submit

60. Sectors of the Economy

Primary

Secondary

Tertiary

Quaternary Services

Quinary Services

Submit

61. Basic Concepts of Poverty

Poverty incidence:

Subsistence incidence:

Submit

62. Various methods or approaches for EMB

Direct approach

Indirect approach

LQ

Constant Share

Ratio‐Share Technique

Shift‐Share Analysis

Input‐Output Model (WassilyW. Leontief)

Submit

Economic Planning

1. Food Sufficiency in a Locality

2.

What first name or nickname would you like us to use?

2. Economic Growth vs. EconomicDevelopment

3. Todaro 3 cores of Development & it's objective

4. Local Economy –Inflows and Outflows

5. The Six (6) M's – Dr. Michael Porter except one

6. Traditional Economic Measures

7. An increase in leisure is an increase in social welfare, but not counted in GDP/GNP.Increased leisure is believed to lead to better health while increased worktime meansmore illness. But GDP places no value on leisure.

8. Industries Classification based on degree ofHazard and Pollution*Updated by Republic Act 9501 (Magna Carta for Micro, Small, and MediumEnterprises), May 23, 2008

9. By this method, the variations in the flow of goods fromone industry to another can be graphicallydemonstrated. Economists use his method to analyze,plan, and predict economic growth.

10.

12. An index of income distribution in an economy, expressed as afraction, that indicates the level of inequality between incomes. The higher thefraction, the greater the inequality of incomes.

13. Basic Concepts of Poverty:Poverty Severity meaning

14. Assumptions of Input/Output Model

15.

16. Reality: "Human wants" is LIMITED BUT resources are unlimited.Hence, the need to decide on WHAT to produce, HOW and WHo gets

17. What type of GDP approach is this?sums up the 'value added' at each stage of production, or take the valueof final sales.

18. There can not be development without growth. Growth is a preconditionto development, but not sufficient by itself

19. "Development is a multi‐dimensional process involving steady or acceleratedeconomic growth, reduction of unemployment and reduction of inequality,the eradication of poverty as well as changes in social structures, popularattitudes, and national institutions."

20. Traditional Economic Measures,Concepts formulated by Dr. Simon Kuznets,System of National Accounts: Measures of Economic Growth

21. Classification of Firms/Enterprisesless than 10 workers with not more than 3Mcapitalization assets

22. GDP doesn't account for population growth – a GDP growth of 4.5% for apopulation growth of 4.5% is nothing to crow about because it is virtuallyZERO.

23. An increase in the amount of basic activity in a region will decrease the flow ofincome into the region Resulting to: increase in the demand for goods and services within it andeffecting a corresponding increase in the volume of non‐basic activity

24. Human Development Index (HDI) except one

25. The denominator in the LQ is

26. Three approaches(SNA) used in GDP

27. Economic Sector Analysis Activity Forecasting tools or variables in monetary unit except one

28. What type of GDP approach is this?Gross Domestic Product = national income + depreciation (about 12%) + (indirect taxes –subsidies) + net factor payments to the rest of the world + other = Net Domestic Product (NDP) = Net National Income (NNI)

30. Is the condition of people after thepie has been consumed

31. refers to theprocess in which local governments orcommunity‐based organizations engage tostimulate or maintain business activity and/oremployment

32. Data / Information for LED except one

33. Classification of Firms/Enterprises10‐99 employees with P3M‐15M capitalization assets

34. Only market activity is included in GDP. Nonmarket and household activities (outputsof a housewife) are not counted in GDP even though they amount to real production.

35. GDP accounting rules do not adjust for production that pollutes or damages theenvironment.– Neglect for depletion of natural resources– Failure to account for effects of environmental degradation

36. Millennium Development Goals except one

37. The numerator in the LQ

38. FACTORS OFPRODUCTION except one

39. Ranges in value from 1 (perfect equality) to 0 (perfect inequality)

40. EXPORT Industries are referred to as the "basic sector" (or the economic base)and IMPORT Industries are referred to as "non‐basic" sector

41. By the term final goods and services, GDP ignores all transactions inwhich money or goods change hands but in which no new goods andservices are produced, does include transfer payments, subsidies,OFW remittances.

42. Enacted by the Philippine Congress in 1991 as RA 6977, amended by Republic Act 8289 in 1997, and further amended by _____ in 2008, the law is geared towards the development of the Filipino entrepreneurial spirit by providing a business environment conducive for MSMEs.

43. Dimensions of Economic Development except one

44. Annual Food Threshold

45. "There can be "economic growth" without "development," suchas when the trickle-down mechanisms fail.

46. Is about enhancing the factors of productive capacity of a national, regional or localeconomy

47. The total incomeearned by the factors of productionowned by a country's citizens

48. Classification of Firms/EnterprisesLarge Scale Enterprise

49. If LQ > 1, basic; LQ < 1, non‐basic

50. ______ is defined as the goods andservices that each industry buys from all the otherindustries, _______ as the products industry sells to theothers.

51. Ecological costs such as government spending to address pollution are netted outof the GDP

52. Poverty Gap meaning except one

53. Classification of Firms/Enterprises100‐199 employees with P15M‐100M capitalization assets

54. The principal goal of local economicdevelopment is

55. Economic Base Theory (Klosterman) In economic base analysis, industries are split into two types

56. Economic Base Analysis In its simplest and original form, the "economic basemultiplier" (EBM) was calculated in terms of employmentBut could readily be computed also using income andother monetary values. Formula of EBM is

57. Models and Tools

58. Components of Economic DevelopmentStrategy

59. Sectors of the Economy

60. Sectors of the Economy

61. Basic Concepts of Poverty

62. Various methods or approaches for EMB

50. is defined as the goods andservices that each industry buys from all the otherindustries, _ as the products industry sells to theothers.