(A) agriculture, because industrialization decreases the value of rural land

(B) agriculture, because investment in technology increases yield per unit effort and decreases
labor demand
(C) industry, because the profit from extracting natural resources increases
(D) industry, because productivity increases as labor costs rise (E) services, because technology
increases efficiency in the provision of services
400r. This phenomenon in economics (Alfred Marshall, 1897) wherein profit-oriented firms try to
locate close to teach other to save on utility costs, realize gains from increased business
interaction, and enjoy benefits from sharing new technologies, improved skills of local
workforce, common infrastructure and amenities, is called --
(A) Co-Location
(B) Proximization
(C) Aggrandization
(D) Agglomeration
401r. This economic phenomenon is internal to a firm, and refers to reduced marginal cost per
unit and increased overall savings as volume or quantity of output is increased utilizing the
same throughputs or production processes.
(A) Localization Economies
(B) Economies of the Mill
(C) Economies of Scale
(D) Discounting
402r. In 1897, he was the first to categorically state that knowledge, intellectual capital, and
technology constitute the chief engine of progress of the economy.
(A) Alfred Marshall
(B) Albert Einstein
(C) Frederick Taylor
(D) Joseph Schumpeter
403r. A ratio that measures output per worker is called
(A) labor intensity
(B) work efficiency
(C) labor productivity
(D) work ethic
404r. A measure that indicates the intensity of the factors of production is known as
(A) capital-labor ratio
(8) liquid exposure
(C) venture capital
(D) operating expenditure
405r. According to Nobel laureate Simon Kuznets, the three ways to determine national macro-
economic accounts(GNP, GDP, NNI) are "value-added," "income approach," and "expenditure
approach." Which of the following is 'expenditure' approach?
(A) final output of Primary sector + Secondary sector + Tertiary sector + etc
(B) National Income + (Taxes-Subsidies) + Depreciation etc
(C) Consumption + Investment + Government Expenditure + (Export minus Import)
(D) Consumption + Taxes + FDI + Balance of Payments + NFIA
406r. The Philippines' GDP totalled 8.32 trillion pesos at nominal prices in 2010, but P4.74
trillion was the consolidated public sector debt stock of national government, LGUs, GOCCs; etc.
The administration of President Gloria Arroyo accumulated a debt stock of 2.57 trillion for 9
years. How much is the total debt stock of 2010 as percent of Gross Domestic Product?
(A) 51%
(B) 57%
(C) 64%
(D) 67%
407r. An indicator of “Quality of Life" developed by Nobel Laureate Amartya Sen, this composite
measure combines life expectancy at birth, school enrolment rate, adult literacy rate, per capita
income, and incidence of poverty.
(A) Millennium Development Goals
(B) Index of Sustainability
(C) Human Development Index
(D) GP| -- Genuine Progress Indicator
408r. Incidence of families below poverty line stood at 39.9% in 1990 and averaged 33% between
2001 and 2010. Did the administration of President Gloria Macapagal Arroyo attain its Millennium
Development Goal in poverty reduction?