DMC COLLEGE FOUNDATION

Sta. Filomena, Dipolog City

1ST Semester 2020-2021

SCHOOL OF BUSINESS AND ACCOUNTANCY

HIGHER EDUCATION DEPARTMENT Applied Economics

SEMI FINAL EXAMINATION Atty. Earl Russell S. Paulican, REB,LPT

NAME: ___________________________________________ SCORE: _______________________

COURSE/YEAR: ______________________________ DATE : _____________________

“The only thing that hurts harder than failure is the agony of not trying”

Test I. IDENTIFICATION. FILL IN THE BLANKS WITH THE CORRECT ANSWERS. (2 Points Each)
1. Refers to the unrestricted access to a resource which results in overuse or usage that
stops only when the marginal benefit drops to zero.
2. The ideal unemployment rate that every nation is aiming for.
3. A kind of labor that involves the exertion of physical effort like the construction workers,
street sweepes, etc.
4. The rate of upward movement in the price level for an aggregate of goods and services,
or simply the decreasing purchasing power of peso.
5. A kind of labor which requires a high degree of intelligence like the job as lawyers,
teachers and accountants that requires proper training, education and experience.
6. The inherent power of the government to take private property for public use upon
payment of just compensation.
7. The presence and availability of jobs for those who are able and willing to work.
8. The agreement entered into by the labor unions and the employer that provides for the
conditions of work and other labor standards agreement.
9. Any human effort which results in production of goods and services.
10. The involuntary idleness on the part of those who have failed t find employment or who
have lost their latest jobs, but are able to work and are looking for work.

Test II. Enumeration . Enumerate and briefly explain each. (2 points each)

I.) The effects of Unemployment (3)

A.

B.

C.

II.) Causes of Unemployment

A.

B.

C.

D.

Test III. Essay. Write your answers in not less than 10 sentences. Utilize the back page. 5 points each.
(3 points=substance, 2 points=structure)

1.) Briefly discuss “externalities” in economic development.

2.) As a student, how can you help solve “Environmental problems” as a negative externality?

-Success is a Choice, not a Destiny-

Prepared by: Atty. Earl Russell S. Paulican,REB,LPT GOD
Bless
 _keep on dreaming_

Prepared by: Atty. Earl Russell S. Paulican,REB,LPT GOD

Bless