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  • Module Assignment No 1

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    Jolly Charmz
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    This document contains 5 questions for a module assignment on economics: 1. How to use opportunity cost logic to make the President aware of costs of bolstering the military. 2. Discuss the costs of unemployment for Filipinos in terms of production possibilities frontier. 3. Explain why fully using resources and technology to maximize GDP is important in developed nations. Consider if GDP is the only important output or if distribution is also important. 4. Debate if total output in Philippines and ASEAN should be distributed by income or basic human needs. 5. Discuss if market efficiency ensures equity, or if the price mechanism results in an inequitable outcome.

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    This document contains 5 questions for a module assignment on economics: 1. How to use opportunity cost logic to make the President aware of costs of bolstering the military. 2. Discuss the costs of unemployment for Filipinos in terms of production possibilities frontier. 3. Explain why fully using resources and technology to maximize GDP is important in developed nations. Consider if GDP is the only important output or if distribution is also important. 4. Debate if total output in Philippines and ASEAN should be distributed by income or basic human needs. 5. Discuss if market efficiency ensures equity, or if the price mechanism results in an inequitable outcome.

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    © All Rights Reserved
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    16 views1 page

    Module Assignment No 1

    Uploaded by

    Jolly Charmz
    This document contains 5 questions for a module assignment on economics: 1. How to use opportunity cost logic to make the President aware of costs of bolstering the military. 2. Discuss the costs of unemployment for Filipinos in terms of production possibilities frontier. 3. Explain why fully using resources and technology to maximize GDP is important in developed nations. Consider if GDP is the only important output or if distribution is also important. 4. Debate if total output in Philippines and ASEAN should be distributed by income or basic human needs. 5. Discuss if market efficiency ensures equity, or if the price mechanism results in an inequitable outcome.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Module Assignment No.

    1:

    1. Suppose the President of the Philippines is a strong on defense and he is bolstering the
    Armed Forces of the Philippines (AFP) at whatever cost. How can you use economic logic
    to make him aware of the opportunity cost associated with this objective?
    2. During this pandemic unemployment plays a serious hardship on out of work individuals
    and families. What are the costs of unemployment for Filipinos? (keep PPF in your
    answer.
    3. Why in the US, Japan, and the European Union, it is important to fully use their
    economic resources and their technology to maximize their output (GDP)? Do you think
    GDP is the only level of output that is important, or there are any other types of output
    that we should produce? Do you think that distribution of this output is just as
    important as its total amount?
    4. Do you think that the total output of the Philippines and other ASEAN countries should
    be distributed according to income or according to some other standard such as the
    basic human needs? Explain your answer.
    5. Does efficiency of the price mechanism ensure that our market – based economy is in
    equitable one? Why or why not?

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