Proverbsville School, Inc.

2nd Semester Post Test in SSGE9 (60 points)

Teacher: Ms. Danica D. Campos School Year 2018-2019

Name: __________________________________________________ Score: ______

Section:__________________________ Date: ________________
Time Allotted: ___________ Time Started: ________ Time Finished: _______

“Cast all your anxiety on Him because He cares for you.” 1 Peter 5:7
Pray before you start. Read the instructions carefully.

THE VICTOR’S PLEDGE ON ACADEMIC HONESTY

I commit myself as a Victor to uphold integrity by choosing NOT to cheat, lie or

plagiarize in fulfilling the requirements in any academic work.
So help me GOD.
_____________________
Student’s Signature

For numbers 1-60, read the following questions and write the letter of the correct answer on the space
provided.
____1. It refers to the study of the movement of the whole economy.
A. Microeconomics C. Economy
B. Macroeconomics D. Economics
____2. It is a social institution that is primarily concerned about the proper allocation of scarce resources to
satisfy multiple human wants.
A. Microeconomics C. Economy
B. Macroeconomics D. Economics
____3. What do you call the sector that utilizes the factors of production?
A. Business C. Rest of the world
B. Household /Consumers D. Government
____4. I. The circular flow of the economy is a basic model of the national economy.
II. The circular flow of the economy reflects the behavior of the different economic actors that directly
or indirectly affects the state of the national economy.
A. Statement I is correct C. Both statement is correct
B. Statement II is incorrect D. Both statement is incorrect
____5. It is a portion of the income of the household that the government receives.
A. Import B. Export C. Tax D. Income
____6. Which is NOT TRUE about the signs that show that the economy is in equilibrium?
A. When outflow is equal to inflow
B. When the aggregate income and aggregate expenditure is equal to aggregate demand and
aggregate supply
C. When the outflow is not equal to outflow
D. None of the above
____7. In describing the national economy it is taken that _____
A. The household is not the source of the factors of production
B. The firm/business employs the factors of production
C. Tax is the major source of income of the government
D. The rest of the world exports and imports products and services
____8. The following is/are the interdependent parts of the economy EXCEPT ______.
A. Consumption B. Employment C. Income D. none of the above
____9. It is a period of reduced economic activity resulting to increased unemployment.
A. Recession B. Depression C. Consumption D. Corruption
____10. This is also known as the public sector and it is the biggest single economic entity in the country.
A. Business C. Rest of the world
B. Household /Consumers D. Government
____11. Business spending is known as ______
A. Investment B. Salary C. Tax D. Profit
____12. Which of the following is/are the other sectors of the National Economy?
A. Agricultural sector C. Service sector
B. Industrial Sector D. All of the above
____13. It is defined as the money value of goods and services the economy produced in a period of time.
A. National Product C. National Income
B. Market Price D. National Price
____14. It is the total of all factor incomes generated from supplying the economy with the factors of
Production.
A. National Product C. National Income
B. Market Price D. National Price
____15. It refers to the additional value of the product as it goes to the production.
A. GNP B. GDP C. Expenditure D. Value Added
____16. It refers to the overall value of final goods and services produced by the citizens of the country
within a year.
A. GDP B. GNP C. Expenditure D. Value Added
____17. Which of the following is/are different approaches in computing the GNP?
A. Final Expenditure C. Value-Added
B. Factor Income D. All of the above
____18.It refers to products produced or income made in the country.
A. GDP B. GNP C. Expenditure D. Value Added
____19. Which of the following is/are NOT TRUE about the limitations of Gross National Product?
A. GNP does not cover the activities of the black market
B. GNP cover second-hand transactions
C. GNP does not cover externalities
D. GNP does not discriminate between good and dubious expenditures.
____20. What is/are the NOT the reasons why the Gross National product could increase?
A. It could be due to the increase in the aggregate volume of production.
B. GNP could increase if prices of goods and services also increase.
C. GNP could increase if prices of goods and services will decrease
D. A and B
____21. What is the formula in solving the Gross National Product (GNP)?
A. GNP= C+I+G+(X-M)+NFYA
B. GNP= C-I+G-(X-M)-NFYA
C. GNP= C-I-G-(X+M)-NFYA
D. GNP= C+I-G+(X-M)+NFYA
____22. What is the GNP in the table below?

YEAR C I G X M NFYA GNP

2015 7 865 434 1 434 523 965 478 2 965 153 4 984 304 1 967 ?
542

A. 10 213 826 B. 10 312 820 C. 10 361 542 D. 10 250 540

____23. It refers to the amount that is left after consumption.
A. Consumption B. Income C. Inflation D. Savings
____24. The following are three fundamental economic goals EXCEPT for one
A. Full employment C. Economic equity
B. Increase in productivity D. All of the above
____25. It is the increase in the society’s productive capacity and it occurs when the productivity rate is
higher than the population growth rate.
A. Economic stagnation C. National development
B. Economic Growth D. Economic retrogression
____26. Which of the following is/are the significance of Economic Growth?
A. Signifies more incomes for the government
B. Generates other income opportunities
C. Improved standard of living, profitable businesses, and peaceful, happy life
D. All of the above
____27. The following is/are factors affecting growth and development EXCEPT for one
A. Land B. Capital C. Entrepreneur D. all of the above
____28. It is the growth of all the dimensions of the society.
A. Economic stagnation C. National development
B. Economic Growth D. Economic retrogression
____29. Which of the following is/are NOT the non-economic factors in the Economic Growth and
development?
A. Income B. Peace and Order C. Cultural influence D. Political stability
____30. When is economic growth and development considered genuine?
A. It raises the quality of life of people
B. Empowers the people to act on their own problems
C. Promotes moral values
D. All of the above
____31. It refers to the increase in the general price of the products and services in the market.
A. Deflation B. Money C. Barter D. Inflation
____32. How inflation can be avoided or how to solve the concerns brought about inflation?
A. The government implement tight monetary policy
B. The government reduce the supply of money in circulation
C. A and B
D. None of the above
____33. This is also known as the plastic money and perhaps the most innovative form of money used
today.
A. Cheque B. Coins C. Credit card D. Paper bills
____34. According to Mankiw, economist, the measurement of national development is_____
A. The capacity of a country’s to produce
B. The high valued investments
C. Tax being collected by the government
D. Wages of workers
____35. In what concrete way is the government able to measure the level and value of production?
A. GDP C. Tax collection
B. GNP D. Profits earned by investors in a year
____36. Which of the following is NOT a role played by the government in attaining national development?
A. Collecting tax and using it for projects related to production
B. Formulate laws on investments, benefits for workers, and care for the environment
C. Implements laws in order for its citizens to follow traffic rules
D. Productive members of the labor force
____37. Which of the following is NOT the correct way of collaborating to attain national development?
A. Nonpayment of tax C. Saving in banks
B. Registering business D. Patronizing local products
____38. It is defined as the science and art of raising the products of the soil to satisfy human wants.
A. Industrial B. Agriculture C. Economic D. Public
____39. Which of the following is not part of the agricultural sector?
A. Livestock B. Mining C. Fishing D. Farming
____40. According to the Philippine Statistical Yearbook of the Philippine 2012, what rank did the agriculture
sector get as having the highest contribution in Philippine GDP for the year 2012?
A. First B. Second C. Third D. Fourth
____41. Which of the following is NOT a role of the agriculture sector?
A. Source food C. Source of raw materials
B. Source of Foreign exchange D. Buy farm land owned by foreigners
____42. Which of the following government agencies ensures the quality of animal feeds?
A. Bureau of Solid and Waste Management
B. Bureau of Animal Industry
C. Agricultural Training Institute
D. Bureau of Agricultural Statistics
____43. Which of the following is/are the importance of Agriculture in the Philippine Economy?
A. It is a source of foreign exchange
B. It is a major market for manufactured goods.
C. It is the chief source of food for the population
D. All of the above
____44. It is the second ambitious agrarian reform law of the Philippine government was ___
A. The Agricultural Tenancy Act of 1954
B. Land Reform Code of 1963
C. The Farmers Emancipation Act of 1972
D. None of the above
____45. What is/are the other factors that affect the growth of the Philippine Agricultural sector?
A. Natural calamities
B. High cost of agricultural technology
C. Lack of farmer’s education
D. All of the above
____46. The following is/are the government agencies that support and help in the activities of the
agricultural sector EXCEPT _______.
A. Agricultural Training Institute (ATI)
B. Bureau of Fisheries and Aquatic Resources (BFAR)
C. Bureau of Soils and Water Management (BSWM)
D. None of the above
____47. What agricultural product does the Philippines exports?
A. Appliances B. Flour from wheat C. Pineapple D. soybean
____48. In the Agrarian Reform Law that was implemented in the Cory Aquino Administration, it is stated
that
A. All public and large private farming lands will be distributed to landless farmers
B. All public vacant lands will be used for agricultural activities
C. The government will buy all private farming lands and loan it to farmers
D. The government will distribute all private farming lands to farmers
____49. Which of the following is NOT an effect of global warming in fishery?
A. Strong typhoon that keeps the fishermen from going out to sea to fish
B. Decrease in the oxygen level that leads to fish kill
C. Destruction of corals where fishes stay
D. Continuous practice of dynamite fishing
____50. I. Agriculture is the main source of food supply of the Filipino people
II. The Philippine agriculture is still undeveloped.
A. Statement I is correct C. Both statement is correct
B. Statement II is incorrect D. Both statement is incorrect
____51. It is the second biggest contributor to the country’s gross domestic and gross national products.
A. Agricultural Sector C. Service Sector
B. Industrial Sector D. None of the above
____52. Which is NOT under the industrial sector?
A. Construction B. Manufacturing C. Mining D. Logging
____53. Which is an example of an industrial product?
A. Rice B. Corned beef C. Tomato D. Oyster
____54. Which is NOT a source of electricity?
A. Sun B. Plant C. oil D. water
____55. Which government agency is responsible for the supply of electricity?
A. Department of Education B. Department of Energy C. DENR D. DPWH
____56. Which skills is needed in the industrial sector?
A. Mathematics B. Public Speaking C. Writing D. technical
____57. Which is NOT considered as black market?
A. Diamonds C. limitation branded clothes
B. Illegal drugs D. travelling without visa
____58. The service sector has the largest contribution to the Philippine GDP in 2012. How many percent
was the sector’s contribution?
A. 38.9% B. 56.4% C. 56.9% D. 72.6%
____59. Which among the ASEAN member countries did the Philippines had the biggest amount of trade
with?
A. Indonesia B. Japan C. Malaysia D. Singapore
____60. Which is NOT a reason for international trade?
A. A country has production limitations
B. The value of the product of a country compared to the value of another country’s product is
comparably lower
C. The country has many popular products
D. Investors in a country is considerably wealthy than the other country.

Thank you, Jesus for Your help!