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Applied Economics (2nd Quarter FINAL EXAM) SENIOR PDF

This document is an exam for Applied Economics taken by a student at Aurora Pioneers Memorial College. It contains 10 multiple choice questions testing knowledge of labor force statistics, types of goods, and market structures. The questions cover identifying groups not in the labor force, examples of inferior and substitute goods, labor force values and rates for 2015 and 2016, unemployment rates, and the market structures of soda producers, boutique hotels, and the banking industry. An answer key is provided at the end to grade the exam.

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Joan Mae Angot - Villegas
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5K views3 pages

Applied Economics (2nd Quarter FINAL EXAM) SENIOR PDF

This document is an exam for Applied Economics taken by a student at Aurora Pioneers Memorial College. It contains 10 multiple choice questions testing knowledge of labor force statistics, types of goods, and market structures. The questions cover identifying groups not in the labor force, examples of inferior and substitute goods, labor force values and rates for 2015 and 2016, unemployment rates, and the market structures of soda producers, boutique hotels, and the banking industry. An answer key is provided at the end to grade the exam.

Uploaded by

Joan Mae Angot - Villegas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Department of Education

REGION IX
Western Mindanao
Aurora Pioneers Memorial College
(FORMERLY: Cebuano Barracks Institute)
Bonifacio St. Pob. Aurora Zamboanga Del Sur
Tel. No. : (062) 331-2332

FINAL EXAMINATION for 2nd QUARTER IN

APPLIED ECONOMICS

Name:___________________________________________________________________Date: ______________

Encircle the letter of the best answer to each question. (10 points)
1. Identify the groups that is/are not part of the labor force.
i. Military
ii. Retirees
iii. Housewives
iv. All of the above
a. i
b. ii and iii
c. i and ii only
d. iv
2. Which is/are an example of an inferior goods.
i. Corned beef
ii. Wheat bread
iii. Instant coffee
iv. All of the above
a. i
b. i and iii
c. i and ii
d. iv
3. Which is/are an example of substitute goods.
i. Car and fuel
ii. Petroleum and natural gas
iii. Tea and coffee
iv. All of the above
a. i
b. ii and iii
c. i and ii
d. iv
2015 2016
Jan JanP
Working Age Population 65 591 67 153
Labor Force
Employed 38 461 40 047
Underemployed 6 883 7 879
Unemployed 2 703 2 469
Labor Force Participation Rate (%)
Employment Rate (%) 93.4 94.2
Underemployment Rate (%) 17.6 19.7
Unemployment Rate (%)
P= projected
4. What is the labor force value for 2016.
a. 50 395
b. 47 926
c. 56 805
d. 42 516
5. What is the labor force value for 2015.
a. 48 047
b. 45 344
c. 55 005
d. 41 164
6. What is the labor force participation rate for 2016.
a. 63.3%
b. 94.2%
c. 63.7%
d. 93.4%
7. What is the unemployment rate for 2016.
a. 3.7%
b. 5.8%
c. 6.6%
d. 4.2%
8. What is the market structure of soda producers in the country.
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. Monopoly
9. Which of the following is the market structure of boutique hotels in the country?
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. Monopoly
10. What is the market structure of the banking industry in the country.
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. Monopoly

Prepared by: Mrs. Joan Mae A. Villegas


ANSWER KEY

1. D
2. B
3. B
4. D
5. D
6. A
7. B
8. C
9. B
10. B

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