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Quiz on basic macroeconomics concepts
1. Quiz on Basic Macroeconomics Concepts (GNP/GDP
and Unemployment)
1. Complete the table below:
Ways to measure
GDP/GNP
The components The advantages
over the other
ways
(give at least 2)
The problems of
this particular
way
(Give at least 2)
1,
2,
3.
2. Show the effects of a high unemployment rate to inflation and GDP/GNP.
Give at least two possible scenarios.
3. According to Lieberman and Hall (the authors of “Introduction to
Economics”) there are three problems to GDP. Explain these three
problems and assess if these three problems can be seen in the Philippine
setting.
4. Do you agree with the critique made by Nuevo and Nera-Lauron (authors of
“Economics for the Filipino”) about how the labor force is measured in the
country? Why or why not? Explain.