Harking Scheme pel Een ae Alvernative ansvers are acceptable so long as they are vell reasoned 1, e BO og ee ee cost of belug a housewife (ec by a lnvyer) > cost of being a lavyer (e-g- paynent co 2 FLlipino aate) LP bee nphenelin) 5 vate tee E if ?3 (44) cerctary prodvceton provision of service 1 (141) = ovcput ds difffeule or costly to mezsure = = Sork no standardized . 2 = eany £0 calculate vage payment (jie cope’ wie) . = ny other relevant point (exch) 2 (lark the (frst 2 ressons only.) eax: (eb) (4) Assume that t é for Filipino maids ts elastic. : z Z change in q@ > Z change nv . 2 ee ee Dees es increase in earnings {rom tw < decrease: - i in earnings from aL a} Jot gece COLY 1 oR 2 i Z decrease in q° > Z increase in © «j Mage rave - ie ee ac ° as "ey ka, of Filipine woids 1.67.3 VP IAG BOND seh’ iB nek Pan ek foer econ IED FANE LY beens Hacking Scheme Aleernative ausvera are acceptable zo long as they gre vell reasoned Hacks 1. (b) (41) Filipino wads aud local alds are substicutes A in denand Cor local salds Unge race 3 ° quaneity oF U7 No. of local cates equilibriva vage t * gquilibesua quantity 1 (ey (a) (Yee) We As produced wichtn che boundary of Hong Kona, 2 (40) Yes, the factor ovner ts a citizen of the 2 Philippines30 GE ECON Mocking Scheme ies (a) @) tc) (a) wae Alternativ so long as they are vell r Hecke = favourable geographical location 2 = good infrestructure/oot conmuntestion aystes 2 ~ skilled Labour/m=a entreprencurs 2 = low tax policy 2 = positive non-intervention policy of the governsent 2 €-8+ no exchange control = any other relevent point préfint settey (each) 2 (Hark the fret 3 points only.) pax 6 (4) average labour productivity : $39 589 an th.tges : TESTE = $223 666.7 cag: $47. 052 in 1906 2 ESSE a = 4207 642.1 ws Higher labour productivity’ fn 1966. (2 xarks for correct forsuis) (44) = better eratning and inovledee or/ 2 Z pore investnent in technology end rachines 2 ~ Enter nanagenent 2 ~ eny other relevant pofat (each) 2 next 4 (Mack the £4rs¢ 2 poincs only.) = a fev doaineting Banks in the racket 3 ~ high degree of interdependence 3 3 3 3 3 = restricted entry differentiated services = non=prics competition e-g- edvertising ~ any other relevent point (each) (Mark the firet 2 points only. Mere sention of points u{thout eleboretion on Hong Kong's situation ~ 2 agtke.) (1) UtlL dnereese since MI {neludes cash in the noabenk PUbMLE ely Bam viphroation oe mack ry. A antadising ) 19 pee Neb (4) #10 000 x I ~ 252 2 = $7509 37 3 ewe fran got] HE #3 recall lonns/sell Snveatsent assete/fem Lt g 2 Dat reer? ap 1 . $10 000 xr sethteas dare) 2 free Hitrerak sewed = $40 OVO / 4 by flows Feld, wen fale fo? arts dhl IL) wowrbah wate Ty