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105 Cards in this Set
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Gross domestic product (GDP) |
It is the value of a nation's finished domestic goods and services during a specific time period. Gross Domestic Product Gross National Product Gross National Income Per Capita Income |
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The gross national product |
It is the value of all finished goods and services owned by a country's residents (in the country and outside the country) over a period of time. Gross Domestic Product Gross National Product Gross National Income Per Capita Income |
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Gross national income |
It is a measurement of a country's income. It includes all the income earned by a country's residents and businesses, including any income earned abroad.
Gross Domestic Product Gross National Product Gross National Income Per Capita Income |
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Per capita income (PCI) or average income |
It measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population.
Gross Domestic Product Gross National Product Gross National Income Per Capita Income |
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Macroeconomics |
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity. Macroeconomics|Microeconomics |
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Microeconomics |
It the part of economics concerned with single factors and the effects of individual decisions. Example includes business income. Macroeconomics|Microeconomics |
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Inflation |
a general increase in prices and fall in the purchasing value of money. Inflation|Deflation|Stagflation |
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Deflation |
It is a decrease in the general price level of goods and services. Inflation|Deflation|Stagflation |
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Stagflation can also be defined as inflation and a decline in gross domestic product (GDP). |
It is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation. Inflation|Deflation|Stagflation |
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Monopoly |
the exclusive possession or control of the supply of or trade in a commodity or service. Monopoly|Oligopoly |
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Oligopoly |
a state of limited competition, in which a market is shared by a small number of producers or sellers. Monopoly|Oligopoly |
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Appreciation |
In general terms, it is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates
Appreciation|Depreciation |
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Depreciation |
In economics, it is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity, either through poor physical quality, obsolescence or changes in the demand for the services of the capital in question.
Appreciation|Depreciation |
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b. cultural anthropology |
The study of contemporary human societies a. cosmetology b. cultural anthropology |
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b. constitutional rights
Civil rights = rights of the individual to live free of repression and discrimination.
Constitutional rights = whatever rights the particular constitution of your nation, state or organisation gives you. |
Right to life, liberty and genuine happiness is fundamental to:
a. civil rights b. constitutional rights |
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b. natural |
To what classification of rights does the right to love and to love belong? a. constitutional b. natural |
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a. honor and reputation |
Which of the following state is the right to human dignity? a. honor and reputation b. fair trial |
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b. I have the right to drive my car but I must see to it that I obey traffic rules. |
Every right has a built-in duty. Which of the following illustrates this correctly? a. I have the right to vote and it is the duty of the COMELEC to allow me to vote. b. I have the right to drive my car but I must see to it that I obey traffic rules. |
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b. unemployment or financial problem |
It is perceived as the most important need and most pressing problem of the Filipino family. a. broken family b. unemployment or financial problem |
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a. expropriation = another term for eminent domain |
What is the power of the state to take private property for public use with just compensation? a. expropriation b. taxation |
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b. excise tax - An excise tax is a legislated tax on specific goods or services at purchase such as fuel, tobacco, and alcohol |
Of the following, which is an indirect tax? a. capital gross tax b. excise tax |
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a. income tax
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In what way does the government tax a person's gains from his labor? a. income tax b. value added tax |
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b. Statement of Assets, Liabilities, and Net Worth |
What does SALN stand for? a. Statement of Assets, Losses and Net Worth b. Statement of Assets, Liabilities, and Net Worth |
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b. congress |
Article IV of the 1987 Constitution, who has the power to declare the existence of the state of war? a. president b. congress |
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b. egalitarianism - the doctrine that all people are equal and deserve equal rights and opportunities. |
In which form of government are all citizens treated as equals on certain dimensions such as religion, politics, economics, social status and culture? a. totalitarianism b. egalitarianism |
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b. segregation |
What intergroup interaction is secessionist movement in Mindanao? a. domination b. segregation |
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gross national product |
The measurement of the total value of a country's economic production: per capita income gross national product |
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Inflation |
In economics, _____ is a rise in a general level of prices of goods and services in an economy over a period of time. mercantilism inflation |
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b. archipelagic doctrine |
As an insular country, to which principle does the Philippines adhere when it comes to territorial boundary? a. three hundred fifty nautical miles from shore b. archipelagic doctrine |
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rising prices and falling output |
Stagflation occurs when the economy expereinces _______ falling prices and rising output rising prices and falling output |
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Thomas Robert Malthus |
The theory that population increases by geometrical ratio while the means of subsistence increases by arithmetical ratio is attributed to: Thomas Robert Malthus Emile Durkheim |
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dignity |
Violation of human rights is a violation of the _______ of persons. dignity freedom |
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honor and reputation |
Which of the following states the right to human dignity? honor and reputation political independence |
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recognition of family as basic social institution |
Under the 1987 Constitution, which among its basic principles embody the sociological aspects of life? separation of state and church recognition of family as basic social institution |
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have access to all records of the government |
The following are our constitutional rights EXCEPT: free access to legal assistance which shall not be denied due to poverty have access to all records of the government |
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just compensation |
According to the Bill of Rights, private property shall not be taken for public use without _____ notarized deed of sale just compensation |
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evasion |
Which is an unlawful act of escaping from payment of taxes? exemption evasion |
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executive department |
To govern is to rule and the government rules by laws. Whose main duty is the enforcement of laws? legislative department executive department |
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electoral tribunal |
A losing senatorial candidate may file a protest against the winner. What body will assume jurisdiction over the case? Electoral tribunal COMELEC |
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fiscal policy |
A policy that controls taxes and government expenditures: monetary policy fiscal policy |
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economics |
The social science that analyzes the production, distribution, and consumption of goods: economics political science |
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monopoly |
When one controls the supply/production of goods, this implies: inflation monopoly |
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b.money/machines invested to transact business |
What does "capital" in economics refer to?
a. profit and labor spent for the business b.money/machines invested to transact business |
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final goods and services |
Gross Domestic Product is the sum of the market value of the ___. final goods and services interior goods and services |
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capitalism |
Which economic system is based on free enterprise? globalism capitalism |
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consumer vigilance |
Which is a safeguard against unfair trade practices like short-weighing? consumer vigilance substandardization |
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17 Seven is a lucky number because Phils is a lucky country. |
The Philippines is composed of ___ regions.
16 17 18 19 |
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Los Banos |
Which place in CALABARZON was named "Special Science and Nature City" of the Philippines? Tagaytay Los Banos Pagsanjan Kawit |
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remedyo attitude |
Filipinos are known to be thrifty, frugal, creative, and resourceful. They have the ability to do things that are next to impossible. They can fix appliances that seem to be beyond repair. What Filipino attitude is being referred to in this statement?
persistence flexibility gaya-gaya attitude |
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bill of rights |
It is the declaration and enumeration of the individual rights and privileges which the constitution is designed to protect against violations by the government, by groups or by individuals. civil rights social rights bill of rights constitutional rights |
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c. The datu exercised all powers of government |
Which statement is true of the pre-Spanish Filipino government?
a. Laws were formulated by a law-making body elected by the community b. There was a court created by the datu to hear complaints. c. The datu exercised all powers of government d. Laws were formulated by a law-making body appointed by the datu |
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b. Sense of dependency among citizens |
Which contradicts the social justice mandate in the 1987 Constitution? a. Creation of economic opportunities for all b. Sense of dependency among citizens c. Elimination of cultural inequalities d. Equitable distribution of wealth |
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b. The Supreme Court is given authority to appoint all officials and employees of the judiciary |
In which instance is the independence of the judiciary shown? a. The Supreme Court is beyond criticism b. The Supreme Court is given authority to appoint all officials and employees of the judiciary c. The qualifications of the Justices of the Supreme Court can be changed by Congress d. The salaries of the members of the Supreme Court and of the lower courts can be decreased during their continuance in office |
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parliamentary |
With the Batasang Pambansa performing legislative and executive powers in the Marcos regime, which form of government was implemented? monarchial presidential parliamentary dictatorial |
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Other officials can be removed from offices but not by impeachment: those under the executive department may be dismissed by the president; members of Congress can be expelled by two-thirds vote of the chamber the member is a part of; local elected officials can be removed from office through recall. |
It is a method by which a public officer may be removed from office during his tenure or before the expiration of his terms by a vote of the people after the registration of a petition signed by the percentage of the qualified voters.
A. initiative B. recall C. referendum D. plebiscite |
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the supreme court |
Who shall be the SOLE JUDGE of electoral disputes involving the President-elect and Vice President under the 1987 constitution? the trial courts electoral tribunal the supreme court the legislature |
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Planting of Rice |
Which of the following is a great work of art of Fernando Amorsolo? Musikang Bumbong Spolarium Planting of Rice First Mass |
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double jeopardy |
When parents decide to send their children to a private school and pay their tuition fee instead of sending them to the public school, they don't get their share in the benefit derived from the taxes they pay. This is a case of ___.
double taxation social inequity social injustice double jeopardy |
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South America Cape Horn (Chile), the southernmost tip of South America, remain a maritime legend to this day, as sailing around this remote point and then through the Drake Passage was (and is) one of the most challenging nautical routes on the planet. |
In which continent can we find stormy Cape Horn which is known as the graveyard of ships and sailors? |
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a. Adam Smith |
He is the father of modern economics. a. Adam Smith b. Charles P. Kindleberger c. Simon Kuznets d. Merton Miller |
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d. It is a field that is concerned with the allocation (investment) of assets and liabilities over space and time, often under conditions of risk or uncertainty. = THIS IS FINANCE |
Which of the following does NOT define economics? a. It is a branch of science that studies the process of production, consumption and exchange of wealth. b. It is a study of mankind in the ordinary business of life. c. It is the science of Human Behavior as relationship between ends and a scarce means which have alternative uses. d. It is a field that is concerned with the allocation (investment) of assets and liabilities over space and time, often under conditionsof risk or uncertainty. |
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b. The opportunity cost of an item is what you give up to obtain them. |
According to Gregory Mankiw in his Principle of Economics, which of the following does NOT describe the Principle of People FaceTradeoffs? a. To get one thing, we usually have to give up another thing. b. The opportunity cost of an item is what you give up to obtain them. c. Making decisions requires trading off one goal against another. d. Efficiency versus Equity |
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b. Scarcity |
_______ is a fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. a. Self-interest b. Scarcity c. Marginal Changes d. Social interest |
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a. increase in unemployment. Increasing inflation decreases unemployment, and a decrease in inflation increases unemployment. (inverse correlation) The theory claims that economic growth comes inflation, which in turn should lead to more jobs and less unemployment. |
Based on the Phillips Curve, the decrease in inflation will result to _______. a. increase in unemployment. b. decrease in unemployment. c. market failure to allocate resources efficiently. d. decrease in the quantity of money being created. |
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c. Economic activity |
_______ refers to any human activity which is performed in exchange for money or money’s worth.
a. Job b. Incentives c. Economic activity d. Market economy |
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c. It is the method used by society to produce and distribute goods and services. |
Which of the following does NOT refer to any type of Economic Activity? a. It is concerned with the utilization of naturally occurring resources. b. The natural products of primary activities are processed and changed into other forms. c. It is the method used by society to produce and distribute goods and services. d. It does not produce a good but serves as an aid in the process of production. |
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c. Export |
_______ represents goods produced in one country and shipped to another country for future sale or trade, adding to the producingnation's gross output. a. International Trade b. Globalization c. Export d. Import |
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c. the equilibrium quantity will increase but the price will not change
If supply is elastic, an increase in demand will cause only a small rise in price, but a significant increase in demand. If supply is inelastic, an increase in demand will cause a large rise in price but only a small increase in demand.
https://www.economicshelp.org/microessays/equilibrium/elasticity-supply/ |
Suppose the supply for product A is perfectly elastic. If the demand for this product increases, _______.
a. the equilibrium price and quantity will increase
b. the equilibrium price and quantity will decrease
c. the equilibrium quantity will increase but the price will not change
d. the equilibrium price will increase but the quantity will not change |
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c. Charitable institutions |
Which of the following is NOT covered by tax? a. Donation b. Royalties c. Charitable institutions d. Prizes and winnings |
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a. any revenue collected by the government |
Tax is generally defined as _______. a. any revenue collected by the government b. the amount deducted from an employee c. imposition of additional payment for goods and services d. a schedule of duties imposed by the government to its citizen |
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d. National taxes |
_______ refers to the payment we made to the government through the Bureau of Internal Revenue. a. Income tax b. Compensation and self-employment income c. Estate tax d. National taxes |
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b. Bureau of Customs |
The import and export tariffs are being levied by what government office?
a. Bureau of Internal Revenue b. Bureau of Customs c. Philippine Port Authority d. Department of Budget and Management |
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d. documents and loan agreements |
A Community Tax Certificate is issued by the cities or municipalities to all individuals that have reached the age of 18 years old andhave paid the necessary dues arising from income derived from the following EXCEPT: a. business b. exercise of profession c. ownership of properties in the area d. documents and loan agreements |
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c. Income Tax |
Which of the following is NOT an example of local taxes in the Philippines? a. Tax on Business b. Professional Tax c. Income Tax d. Amusement Tax |
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d. Tax on Transfer of Real Property Ownership |
Which of the following is NOT an example of national taxes in the Philippines? a. Capital Gains Tax b. Documentary Stamp Tax c. Value-added Tax d. Tax on Transfer of Real Property Ownership |
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b. Barangay Clearance |
_______ is a document issued by the barangay for government transactions such as when applying for business permit within the cityor municipality. a. Cedula b. Barangay Clearance c. Barangay ID d. Documentary Stamp |
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a. Republic Act 10963 |
The Tax Reform for Acceleration and Inclusion (TRAIN) Law is the implementation of _______. a. Republic Act 10963 b. Republic Act 10066 c. Republic Act 10693 d. Republic Act 10966 |
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b. the first P250,000 income of all individuals |
The key component of the TRAIN law is the lowering of personal income tax and exempting _______. a. the first P220,000 income of all individuals b. the first P250,000 income of all individuals c. all minimum wagers d. all freelancers and self-employed Filipinos |
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c. Department of Agrarian Reform |
What does DAR mean? a. Department of Agricultural Reform b. Department of Agriculture and Reclamation c. Department of Agrarian Reform d. Department of Agricultural Reformation |
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b. Republic Act No. 4054 |
What was the first law on crop sharing which legalized the 50-50 share between landlord and tenant with corresponding support totenants protecting them against abuses of landlords? a. Republic Act No. 1400 b. Republic Act No. 4054 c. Commonwealth Act No. 608 d. Republic Act No. 8532 |
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c. Diosdado Macapagal Diosdasdo Macapagal (1961-1965) • President Diosdado Macapagal was considered the “Father of Agrarian Reform” • It was during his term that the Agricultural Land Reform Code or RA No. 3844 was enacted on August 8, 1963. |
He is considered the father of Agrarian Reform.
a. Ramon Magsaysay b. Carlos P. Garcia c. Diosdado Macapagal d. Ferdinand E. Marcos |
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b. Obstacles to agricultural productivity Initial answer was D. |
Which of the following is NOT a characteristic of Agrarian Reform?
a. Vital position of agriculture in national economy b. Obstacles to agricultural productivity c. An instrument for increasing agricultural productivity d. Control of agriculture activities for the rapid development of commercial industry |
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d. business and companies |
Agrarian Reform is comprised of land reform and development of complimentary institutional framework such as the followingEXCEPT: a. government agencies b. rural education c. social welfare institutions d. business and companies |
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a. Republic Act No. 6657 |
An act instituting a comprehensive agrarian reform program to promote social justice and industrialization, providing the mechanismfor its implementation, and for other purposes is _______.
a. Republic Act No. 6657 b. Republic Act No. 9700 c. Republic Act No. 8532 d. Republic Act No. 7881 |
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C. Imhotep |
Who was considered as the architect of Egyptian pyramids A. Thutmose II B. Kaleb C. Imhotep D. Karnak |
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B. Francis Burton Harrison
Harrison was Governor-General of the Philippines from 1913 to 1921 and advocated for and oversaw the process of Filipinization, or the transfer of authority to Filipinos in the United States territory's Insular Government to better prepare for independence. |
Who advocated the process of Filipinization in the Philippines during the American colonial period?
A. William Howard Taft B. Francis Burton Harrison C. Frank Murphy D. Dwight Davis |
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C. Katrina |
This hurricane caused a huge devastation in New Orleans in the United States of America. Which hurricane was this? A. Sandy B. Irene C. Katrina D. Rita |
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Tayabas, now Quezon Province, where dela Cruz was born |
Where did Apolinario dela Cruz or Hermano Pule establish the Cofradia de San José (Confraternity of St. Joseph)? a. Manila b. Tayabas c. Bislig d. San Jose |
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a. monopoly |
When one corporation/company controls the supply of sugar, this is known as ___ a. monopoly b. inflation c. economic stability d. equilibrium |
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d. law of supply and demand |
If the supply of mangoes decreases and the price increase, which of the following principles of economics apply? a. substitution effect b. law of cause and effect c. principle of marginal utility d. law of supply and demand |
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a. the total value in pesos of goods and services produced during the year |
Which explains GNP? a. the total value in pesos of goods and services produced during the year b. the total value in pesos of goods produced during the year c. the total value in pesos of services produced during the year d. the total value in pesos of goods and services produced for 2 quarters |
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a. state - a patch of land with a sovereign government; but it can also be defined as a community that lives under the power of the government; a political unit that has the sovereign power over a piece of land.
nation - a group of people who share common cultural heritage, a bonding because of shared history and geographical boundaries. Diversity may also exist in a nation, a melting pot. |
A community of persons, more or less numerous, permanently occupying a definite portion of territory, independent of external control, and possessing a government to which a great body of inhabitants render habitual obedience.
a. state b. nation c. sovereign d. territory |
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b. pardon |
An act of grace which exempts the individual on whom it is bestowed from the punishment which the law inflicts for a crime he has committed. a. commutation b. pardon c. reprieve d. amnesty |
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a. commutation Mitigation |
One of the powers of the Chief Executive, it is considered as the reduction or mitigation of the penalty.
a. commutation b. pardon c. reprieve d. amnesty |
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c. reprieve means to delay REprieve for REschedule |
One of the powers of the Chief Executive, it is the postponement of a sentence or stay of execution.
a. commutation b. pardon c. reprieve d. amnesty |
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d. amnesty |
It is an act of grace, concurred by the legislature, usually extended to groups of persons who committed political offenses, which puts into oblivion the offense itself. a. commutation b. pardon c. reprieve d. amnesty |
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d. all of the above |
Which of the following is the correct definition of politics? a. the study of who gets what, when and how b. the science of government, the making of collective decisions, the allocation of scarce resources and the practice of deception and manipulation c. involves the making of collective decisions for group of people d. all of the above |
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a. libertarianism |
A version of anarchism but involves the government in a minimal role such as ensuring the safety of everyone and fairness in whatever contracts or dealings. a. libertarianism b. capitalism c. conservatism d. marxism |
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Unicameralism |
It is the term used when two houses of Congress are fused in one body or chamber. |
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D. All of the given options |
1. Requisites of a good written constitution. A. Brief B. Broad C. Definite D. All of the given options |
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B. Courts |
Who has the authority to interpret the constitution? A. Private individual B. Courts C. Legislative and Executive departments of the government D. All of the given options |
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C Preamble |
“We, the sovereign Filipino people, imploring the aid of Almighty God , in order to build a just and humane society and establish a government that shall embody our ideals and aspirations, promote our common good, conserve and develop our patrimony, and secure to ourselves and our posterity the blessings of independence and democracy under the rule of law and the regime of truth, justice, freedom, equality and peace, do ordain and promulgate this Constitution.” What part of Constitution is this? A General Provision B Amendments C Preamble D National Patrimony |
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D both A and B. |
“If an individual is to maximize the utility received from the consumption, he or she should spend all available income…” This statement assumes ________. A that saving is impossible. B that the individual is not satiated in all goods. C that no goods are “inferior.” D both A and B. |
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D. all of the above. |
An individual’s demand curve A. represents the various quantities that the consumer is willing to purchase of a good at variousprice levels. B. is derived from an individual’s indifference curve map. C. will shift if preferences, price of other goods, or income change. D. all of the above. |
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d. Any organization that turns inputs into outputs |
What is a firm? a. A president, some vice presidents, and some employees b. Any organization that wants to make a profit. c. Any accumulation of productive assets. d. Any organization that turns inputs into outputs |
