APPLIED ECONOMICS EXAMINATION
1. If these minimum wage employees are spending
more, then businesses are earning more and need to
hire more employees to keep up with the increased
sales from the minimum wage employees who are
buying more.
2. Raising the minimum wage means minimum wage
workers have more money to expend which means
more money ripples throughout the economy as
minimum wage employees are able to spend more.
3. If an employer has a tight compensation budget
and the minimum wage is raised, it means they can
no longer compensate the same number of employees
at a higher rate and must make layoffs to remain
within budget.
4. Employers might raise prices of their product in
order to generate enough income to support their
more highly paid minimum wage employees, which
could ultimately create a ripple effect for other shops
and industries, resulting in a slightly higher cost of
living, resulting in another push to raise minimum
wage again.
5. If business must pay their minimum wage
employees more, they cannot afford to hire as many
employees.
6. If minimum wage increases, overly qualified
individuals will be vying for minimum wage
positions, pushing younger, inexperienced workers
out of the running and robbing them of their
opportunity to gain experience and knowledge to
build a resume for themselves and enter the
workforce.
7. Employees surviving at minimum wage are also
often the same people who must rely on additional
support of government run social programs to support
themselves and their families on such a small amount
of income.
8. The federal minimum wage needs to be raised in
order to account for inflation, which raises every year
and the minimum wage has only been risen three
times in the past three decades.
9. Employees who are making a higher minimum
wage feel more comfortable and satisfied in their
minimum wage jobs meaning they are less likely to
quit.
10. Many states have their own set minimum wages,
so the amount the city minimum wage is set at varies
in significance from locality
11. is a kind of withholding tax which is prescribed
only for certain payors and is creditable against the
income tax due of the payee for the taxable quarter
year.
12. It is the tax withheld from individuals receiving
purely compensation income.
13. It is a tax imposed on goods manufactured or
produced in the Philippines for domestic sale or
consumption or any other disposition.
14. It is a business tax imposed and collected from
the seller in the course of trade or business on every
sale of properties (real or personal) lease of goods or
properties (real or personal) or vendors of services.
15. It is a business tax imposed on persons or entities
who sell or lease goods, properties or services in the
course of trade or business whose gross annual sales
or receipts do not exceed the amount required to
register as VAT-registered taxpayers.
16. It is a tax imposed on the gains presumed to have
been realized by the seller from the sale, exchange, or
other disposition of capital assets located in the
Philippines.
17. It is a tax on documents, instruments, loan
agreements and papers evidencing the acceptance,
assignment, sale or transfer of an obligation, rights,
or property incident thereto.
18. It is a tax on the right of the deceased person to
transmit his/her estate to his/her lawful heirs and
beneficiaries at the time of death and on certain
transfers which are made by law as equivalent to
testamentary disposition.
19. It is a tax on all yearly profits arising from
property, profession, trades or offices or as a tax on a
person’s income, emoluments, profits and the like.
20. A. tax collected from the proprietors, lessees, or
operators of theaters, cinemas, concert halls, circuses,
boxing stadia, and other places of amusement.
21. It refers to the movement of people from one
place to another. 33. They usually sell direct to retailers or the end
Migration consumer through agents or trade shows?
34. The one who uses the products and services
22. It refers to the movement of people from one
and judges the quality of those products and
country to another. services?
Migration 35. The least profitable customers as sometimes
23. It is process of shifting labor force from one they themselves are not sure what to buy?
physical location to another. 36. A firm that sells different categories of
24. What do you called to the Filipinos working products and services but are in the same
temporarily or permanently outside the country? industry and same markets?
37. It is an umbrella organization which consists
25. It refers to the movement of people within
of heads of different housing agency.
one country.
38. It is a national agency tasked as the planning,
26. This is the most complex market structure?
27. It lies at the opposite end of the spectrum regulatory and quasi – judicial body for land use
from perfect competition? development and real estate and housing
28. Type of market competition that don’t sell regulation.
identical products instead, they sell products that 39. Refers to a land as well as building or
differ somewhat from each other? houses.
29.It composed of a large number of seller with 40. What is the largest segment in the real estate
no difference in their products?
industries?
31. Type of supplier that buy in bulk from
several manufacturers and vendors? 0. Which of the following is a not real estate
32. A business owner that grants a license to an basic need that never ends?
individual to develop their own business?
1.It is the payment for the use of 5. Which of the following is the formula
borrowed money. for interest.
a. discount b. Interest a. I = F x r x t b. I = P x r x tn
c. principal d. proceeds c. I = P x r x t d. I = F x r x tn
. Liera invested $5,500 at 8% compounded
2. What do you call the capital or sum of
quarterly for 5 years and 6 months.
money invested?
a. discount b. Interest 6. Obtain the value of i?
c. principal d. proceeds a. 0.2 b. 0.002
0.02 d. 0.0002
3. What kind of interest in which only
the original principals bears interest for the 7. What is the value of n?
entire term of loan? a. 14 c. 4.6
a. compound b. Interest b. 224 d. 22
c. proceeds d. simple
8. Find the compound amount
.4. What kind of interest added to the a. $8,502.89 c. $8,520.89
principal at the end of a certain period of time b. $3,002.89 d. $3,020.89
after which the interest is computed in the new
9. Solve the interest.
principal.
a. $8,502.89 c. $8,520.89
a. compound b. Interest
b. $3,002.89 d. $3,020.8
c. proceeds d. simple