Economic Development

• Poverty is relative to the standard of living of different countries.

  
  

  False
• This is the sum of the individual's or citizen's earnings from salary, wages, and investment during a period of time less current individual taxes

  Disposal Personal Revenue
• The possible meaning of Gross Domestic Product


  All outputs in the economy
• Poverty is a complex multifaceted world that requires a clear analysis in all of its many dimensions and these are?

  Geographical, Biological, Social Factors
• The most common measure of poverty is the

  Poverty Rate
• This is the sum of an individual's or citizens earnings from salary, wages, and investment during a period of time.

  Personal Revenue
• The peso value that households are spending for final goods and services in a year.

  Consumer Spending
• This includes both national and local government units spending to acquire goods and services that are used for public facilities.

  Government Spending
• GDP on the basis of the base year.

  Real GDP
• What makes GNP and GDP different is that depreciation


  True
• A decrease in the real GDP means an increase in output of that period.

  False
• Industrial Revolution created a great deal of equality between countries and was believed to even intensify the gap between the rich and the poor nations.

  False
• This is characterized by those disadvantaged in basic living conditions such as food, clean water, sanitation, housing, good health, and even to information.

  Extreme Poverty
• This is the sum of all the finished goods and services produced by the citizen of a country overseas and domestically.

  Gross National Product
• This approach in the computation of the GDP focuses on the product market, the summation of consumption, investment, government spending, and net exports.

  Expenditure Approach
• This is a statistic used to measure the total goods and service purchased and consumed by a households compare to the base year.

  Consumer Price Index (CPI)
• Stock market transactions are included in the computation of GNP.

  False
• The poverty line is constantly adjusted to hold the real purchasing power given changing price levels. The poverty line suffering from extreme hunger is called?


  Subsistence Incidence
• The poverty line is constantly adjusted to hold the real purchasing power given changing price levels. In the Philippines further classification of the part above the poverty line suffering from extreme hunger is called subsistence incidence.


  False
• Those level of income and expenditures that fall below a level popularly known as the "poverty line" is called?

  Extreme Poverty
• The percentage of families or individuals with per capita income or expenditure less than the per capita threshold to the total number of families an individuals is called?

  Poverty Incidence
• The cost of living allowance is an adjustment applied to the income received by the employees to sustain the standard of living due to an increase in salaries and wages.

  False
• Tne method that is used is the analysis of the income percentages in relation to the percentage of the people's income normally spread in percentile ranking. This is Lorenz Curve.

  False
• The most common measure of poverty is the poverty rate, relative to poverty line. In most countries , the poverty line is set by the government as threshold to which the average value of income and expenses is compare to consider a family in poverty.


  False
• Net exports are just the difference between the final goods and services derived from exportations from importations.

  False
• Consumer spending is the peso value that households are spending for final goods and services in a year.

  True
• Using the Expenditure Approach, the formula in the computation of Gross Domestic Product (GDP)is GDP= GNP+C+1+G+(X-M)

  False
• If the real GDP increases, then it must hold true that the real GDP also increases.


  True
• Inflation exists when there is a sustained decrease in the price level.

  False
• Using the Income Approach, the computation of GDP is:

  GDP= Total National Income + Sales Tax + Depreciation + Net Foreign Factor Income


  True
• In the expenditure approach of computing GDP, I is inflation rate.

  False
• (X - M) = Net exports or exports less the imports


  True
• Net foreign factor income is the income of the citizens make while abroad plus the income generated by foreigners in the country.


  False
• Sustainability in a plethora of ways and it is in economics and the wider social sciences. These include monetary values, value in terms of wider sets of attributes as well as temporal component


  True
• Ecotourism occurs "in nature" considered to be "high impact" with minimal disturbance to the environment portion of profit should be in conservation efforts.

  False
• Agriculture in economic growth and development means the income is higher and the food is cheaper and easier to obtain. Efficiency in agriculture and rural development is defined by the sustainable food production in one's country relative to the costs of its production.


  True
• Economic crashes usually begin with the vicious cycle of higher prices and the expectations of higher prices that greatly affect the buying behaviour of the people.


  True
• Vicious cycle is any situation in which an action tends to bring about a further reaction that offsets any gain brought about by the initial action and exacerbates the initial problem. Leading to decline in personal wealth and savings and limiting foreign investments and trade, money increases too fast that it pushes inflation to rise instantaneously and in great magnitude which affect the velocity of money.


  True
• The sum of all expenditures to purchase final goods and services by consumers, businesses, and government.

  Expenditure Approach
• GDP deflator is a metric used by economists to understand the changes in prices of products that are produced in several countries.

  False