Monday, December 27, 2010

REACTION PAPER

Source: http://www.prb.org/Publications/Datasheets/2006/MakingtheLinkinthePhilippinesANewPRBDatasheet.aspx

(April 2006) With one of the highest population growth rates in Southeast Asia, the Philippines is experiencing increasing human pressure on its natural resources, including forests, coasts, and safe water supplies. And the decline of this natural resource base is threatening the health and well-being of Filipinos in every region—urban and rural areas alike.
A new Population Reference Bureau datasheet—Making the Link in the Philippines—provides national, regional, and provincial data for 15 indicators that highlight the connections among population trends, natural resource use, and the health and well-being of Filipinos.
"These issues are all intrinsically linked," says Roger-Mark De Souza, technical director of PRB's Population, Health and Environment Program. "You can't alleviate poverty if large disadvantaged populations don't have basic services such as health care and safe drinking water."
Examples of these linkages abound in the Making the Link in the Philippines datasheet, which includes indicators such as population growth rate, infant mortality rate, access to safe water sources, forest cover, and incidence of poor families. Highlights include:
·         Almost one-half of the population of the Philippines now lives in urban areas. And addressing urban issues—such as the management of waste, water and air quality, and access to adequate housing—has become a significant challenge. In the National Capital Region (NCR), the most highly urbanized region in the country, 16 percent of families lack access to safe water sources.
·         Fertility rates remain above the regional average. The Philippines' total fertility rate (lifetime births per woman) is currently 3.5, higher than most of the country's Southeast Asian neighbors. This high rate is due in part to an unmet need for family planning: Approximately 17 percent of the country's married women either would like to wait before having more children or would prefer to have no more children, but aren't using traditional or modern methods of family planning.
·         Human vulnerability to natural disasters is growing. Increasing population density and environmental degradation are accelerating vulnerability to disasters in the Philippines, as settlements encroach into disaster-prone areas. Nearly 90 percent of the country's mangroves have been cleared, eliminating natural barriers to coastal storms and flooding. Likewise, the dramatic reduction in forest cover (only about 7 percent of the Philippines' original lowland forest cover remains, though reforestation efforts have increased forest cover in some provinces) contributes to the severity of flash floods and mudslides.


What you do little today can be big tomorrow. Nowadays, there is that need for social awareness among Filipinos. Yet Filipinos were too dramatic about two things: Politics and Religion. Unknowingly, there are little issues in our country that are continuously growing and becoming threats not only to society, but more to Philippine economy.  

In politics, many well-educated people were stirring nationalism among Filipinos. Media led our attention to these political-related issues. Then, by just listening, reading, or watching, we tend to conclude hastily and generalize everything. Haven’t you observed?  Even the slightest issues, garbage disposals, epidemic diseases and even the lack of milk for the infants, were blamed to our crap government. Well, I do believe that our government is not superman or wonder woman or any other fantasy super heroes. Can’t you see the bigger picture of this? There is more than just political failure; it is the Filipino mentality, particularly towards population growth. Each of us must be socially responsible and not be dependent to social trends and government promises, there is a call to act. Actually, we can simplify this by saying – “Think about the future of your children.” Unfortunately, we failed to see the future effects of our past actions that’s why this once little issue became a growing threat to us. In the end, there’ll be no room for blames and regrets; we’ll have a bitter taste of our own mistakes. I know we won’t let that happen so stop blaming others and be independent.

We are known to be the only Christian country in Asia and with one of the highest population growth rates in Southeast Asia. When I was in high school, I heard that birth control is a sin because it is stated in the bible, “go and multiply”. So I guess population growth is one popular technique for religion growth. Well, I can’t blame other religions if they have foreseen Christianity as a religion for the poor. In the Philippines alone, among the 90% Christians, 70%-80% belong to the poor. Am I saying that religion is the cause of poverty? No. We are the architects of our own lives, and look around you, God provided, provides, and will provide us with everything that we “need”. We were gifted with intelligence not to defend our mistakes, but to think and be able to help the society. Go and multiply – go preach the good news and save souls, multiply in Jesus’ name.

A wise man knows how to listen and act accordingly. In our society today, many are intelligent, but only a few are gifted with wisdom. It’s never too late if you act “now”, but tomorrow can be the deadline. If we’ll be able to solve population growth, there’s a huge possibility for economic growth in the Philippines. We can never be like China, so don’t ever think of population growth as an advantage. More Filipinos will equal to limited natural resources, higher unemployment, more epidemic diseases, more crimes, and a whole lot more. See? Poverty is caused neither by politics nor religion. It is us; we should control our urges and minimize population growth. Let’s not wait for another flood and Noah’s ark. Let’s not wait for another world war. The only solution to this is for us to act, and think of our future. This world might exist for another billion years, and we wouldn’t want our great, great grandchildren to live in a dying planet.  

Wednesday, December 15, 2010

Answers to Review Questions Econ 222

Chapter 4:
1. d
2. b
3. a
4. b
5. a
6. c
7. d
8. a
9. c
10. a

Chapter 5:
1. c
2. d
3. b
4. b
5. c
6. c
7. a
8. b
9. d
10. c

Chapter 6:
1. b
2. c
3. a
4. c
5. b
6. a
7. b
8. c
9. a
10. b

Economics Classes: Review Questions (Chapter 4) for Econ222

Economics Classes: Review Questions (Chapter 4) for Econ222:

Review Questions (Chapter 4) for Econ222

1.


Which of the following is NOT a characteristic of a perfectly competitive market?
a.The goods being offered for sale are all the same.
b.Buyers and sellers are very numerous.
c.Buyers and sellers are price takers.
d.It is difficult for new firms to enter the market.


2.


A market with only one firm is known as a:
a.complementary market.
b.monopoly.
c.perfectly competitive market.
d.normal market.


3.


An increase in demand means that:
a.when the price drops consumers are willing to purchase greater quantities of the good.
b.consumers are willing to purchase greater quantities of the good at any given price.
c.when the price rises, consumers are willing to purchase greater quantities of the good.
d.consumers make the price drop by buying greater quantities of the good.


4.


If good B is a substitute for good A, and the price of good B increases:
a.the quantity demanded of good A will decrease.
b.the demand for good A will increase.
c.the price of good A will tend to decrease.
d.the quantity demanded of good B will increase.


5.


When the price of a good increases:
a.the quantity supplied of the good will increase.
b.the quantity supplied of the good will decrease.
c.the supply curve of the good will shift to the right.
d.the supply curve of the good will shift to the left.


6.


A new technology that helps firms reduce production costs will cause a:
a.movement down and to the left along the supply curve.
b.movement up and to the right along the supply curve.
c.shift to the right of the supply curve.
d.shift to the left of the supply curve.


7.


If the price in a market happens to be below equilibrium, there will be a ________ in the market, and the price will tend to ________.
a.surplus, drop
b.surplus, rise
c.shortage, drop
d.shortage, rise


8.


If the price in a market happens to be above equilibrium, there will be a ________ in the market, and the price will tend to ________.
a.surplus, drop
b.surplus, rise
c.shortage, drop
d.shortage, rise


9.


Suppose that a scientific study just published demonstrates that eating apples makes people much healthier. How will this affect the equilibrium price and quantity in the market?
a.The equilibrium price will increase and the equilibrium quantity will decrease.
b.The equilibrium price will decrease and the equilibrium quantity will increase.
c.Both the equilibrium quantity and price will increase.
d.Both the equilibrium quantity and price will decrease.


10.


Suppose the price of corn syrup increases. Given that corn syrup is a major ingredient in the production of soft drinks, how will this affect the equilibrium price and quantity in the soda market?

a.The equilibrium price will increase and the equilibrium quantity will decrease.
b.The equilibrium price will decrease and the equilibrium quantity will increase.
c.Both the equilibrium quantity and price will increase.
d.Both the equilibrium quantity and price will decrease.

Review Questions (Chapter 5) for Econ222
1.


A good will tend to have an inelastic demand if:
a.the good has many close substitutes.
b.the good is a luxury.
c.the market is defined very broadly.
d.the time horizon is long.


2.


A perfectly elastic demand is represented graphically by a:
a.relatively steep demand curve.
b.relatively flat demand curve.
c.vertical demand curve.
d.horizontal demand curve.


3.


What effect will an increase in the price have on Total Revenue, if demand is elastic?
a.Total Revenue will increase.
b.Total Revenue will decrease.
c.Total Revenue will first decrease and then increase.
d.Total Revenue will remain unchanged.


4.


The price elasticity of demand tends to be more elastic:
a.at points further up and to the left along the demand curve.
b.at points further down and to the right along the demand curve.
c.when the demand curve becomes steeper.
d.when the demand curve is vertical.


5.


Suppose that General Cars increases the price of its Cadiclap model from $13,500 to $16,500. As a result of this, the quantity demanded of the Cadiclap model decreases from 600,000 to 400,000 per year. Find the price elasticity of demand of the Cadiclap using the Mid-Point method.
a.-3.0
b.-0.5
c.-2.0
d.-0.3


6.


If a firm needs to increase its Total Revenue, the firm should ________ the price, if the demand for its product is ________.
a.drop, inelastic
b.raise, elastic
c.drop, elastic
d.drop, unit elastic


7.


Suppose that consumers' incomes rise by 3%, and that this causes the quantity demanded for a good to increase by 4.5%. What is the income elasticity of demand?
a.1.50
b.0.67
c.-1.50
d.-0.67


8.


Suppose that a good has an income elasticity of demand of -2.0. This means that the good is:
a.normal.
b.inferior.
c.a substitute.
d.a complement.


9.


If two goods have a cross-price elasticity of demand of -0.8. This means that these goods are:
a.normal.
b.inferior.
c.substitutes.
d.complements.


10.


The price of good A increases from $4.50 to $5.50. This causes the quantity demanded of good B to increase from 900 to 1100 units per month. Find the cross price elasticity of demand using the Mid-Point method.
a.-1.0
b.+2.0
c.+1.0
d.-2.0


Review Questions (Chapter 6) for Econ222

1. Suppose that a regulation is in place that does not allow the price of a good to exceed $5. If this price is above the equilibrium price in the market, this would be an example of a:
a.binding price ceiling.
b.not binding price ceiling.
c.binding price floor.
d.not binding price floor.



2.


Suppose that a regulation is in place that does not allow the price of a good to fall below $10. If this price is above the equilibrium price in the market, this would be an example of a:
a.binding price ceiling.
b.not binding price ceiling.
c.binding price floor.
d.not binding price floor.


3.


Suppose that a regulation is in place that does not allow the price of a good to exceed $5. If this price is below the equilibrium price in the market, this would be an example of a:
a.binding price ceiling.
b.not binding price ceiling.
c.binding price floor.
d.not binding price floor.


4.


If a price floor is in place and it is binding, the market will:
a.remain in equilibrium, unaffected by the price floor.
b.experience a shortage.
c.experience a surplus.
d.adjust its equilibrium point toward the price floor.


5.


If a price ceiling is in place and it is binding, the market will:
a.remain in equilibrium, unaffected by the price floor.
b.experience a shortage.
c.experience a surplus.
d.adjust its equilibrium point toward the price floor.


6.


If a price floor is in place and it is not binding, the market will:
a.remain in equilibrium, unaffected by the price floor.
b.experience a shortage.
c.experience a surplus.
d.adjust its equilibrium point toward the price floor.


7.


If a tax is imposed on buyers of a good, the ________ curve of the good will shift ________ by the amount of the tax.
a.demand, upward
b.demand, downward
c.supply, upward
d.supply, downward


8.


If a tax is imposed on sellers of a good, the ________ curve of the good will shift ________ by the amount of the tax.
a.demand, upward
b.demand, downward
c.supply, upward
d.supply, downward


9.


If a tax is imposed on a good and the incidence of the tax ends up falling more heavily on the sellers than on the buyers, this will be because:
a.demand is more elastic than supply for that good.
b.demand is less elastic than supply for that good.
c.the tax was imposed on the buyers of the good.
d.the tax was imposed on the sellers of the good.


10.


If a tax is imposed on a good and the incidence of the tax ends up falling more heavily on the buyers than on the sellers, this will be because:
a.demand is more elastic than supply for that good.
b.demand is less elastic than supply for that good.
c.the tax was imposed on the buyers of the good.
d.the tax was imposed on the sellers of the good.