Political Science and Economics Flashcards
A man served his sentence for 8 years, although he was sentenced 20 years
imprisonment.
a. commutation of years
b. pardon
c. total freedom
d. parole
Answer: A. a commutation of years
Rationalization: Commutation, in law, shortening of a term of punishment or lowering
of the level of punishment.
A child after birth has a right to have a name. This is actually?
a. Right for just treatment
b. Right for survival
c. Right to suffrage
d. Right to identity
Answer: D. Right to his identity
Rationalization:
The right to identity - having an identity is a fundamental human right which
allows each individual the ability to enjoy all of their rights. Identity encompasses
the family name, the surname, date of birth, gender and nationality of the
individual. Through these details, an individual will hold rights and obligations
specific to their status (woman, man, child, handicapped, refugee, etc.)
Mr. Sin was born as a Chinese national. He wants to run as a congressman. He
was naturalized at age 18. Can he run for a congressional seat?
a. Yes, because he was a naturalized citizen
b. Yes, because he is a citizen
c. No, because a naturalized citizen can’t run for congress
d. No, because his parents are already citizen
Answer: C. No, because a naturalized citizen can’t run for congress
Rationalization:
To qualify for election as a Representative, one qualification should be that you
have to be a natural-born citizen of the Philippines.
In order to avoid conflict with China what does the Philippines invoked in terms of
Spratly Island?
a. Laws on territorial boundaries
b. Laws on sea limits
c. Territorial Supremacy
d. Laws on immigration
Answer: A. Laws on territorial boundaries
Rationalization:
The Philippine Territorial Boundaries (UNCLOS) This law has given distinction to the previous treaties and local laws of the
Philippines covering the Kalayaan Group of Islands (Spratlys) and the Panatag
Shoal (Scarborough) which is a frequent fishing ground of the fishermen of
Zambales
There are military confrontations in some parts of the Philippines. How does the
government address the situation?
a. Declare cease fire
b. Declare amnesty for all
c. Negotiate with representative of both panels
d. Declare war zones.
Answer: C. Negotiate with representative of both panels
Rationalization:
Negotiation is a strategic discussion that resolves an issue in a way that both
parties find acceptable. In a negotiation, each party tries to persuade the other to
agree with his or her point of view.
Which among the following is NOT a core principle of human rights?
a. Interdependent
b. Non-discrimination
c. Universality
d. Independency
Answer: D. Independency
Rationalization:
Human Rights Principles
The principles are: Universal and inalienable, Interdependent and indivisible,
Equal and non-discriminatory, and Both Rights and Obligations.
Which statement is guaranteed by the Civil Code of the Philippines?
a. Both husband and wife are co-equal
b. Both are given freedom to choose their occupations
c. The husband has the right to object to the occupation of the wife
d. The wife also has the right to object to the occupation of the husband
Answer: A. Both husband and wife are co-equal
Rationalization:
REPUBLIC ACT NO. 386
AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES
ARTICLE 32. (8) The right to the equal protection of the laws;
The government wants a piece of private land for a government project. The
owner resisted the government. How may the government own the land?
a. Right of eminent domain
b. Right of habeas corpus
c. Right of government ownership
d. Right of a sovereign over the governed
Answer: A. Right of eminent domain
Rationalization:
Eminent domain refers to the power of the government to take private property
and convert it into public use.
A radio station was padlocked after a midnight broadcast. The operator accused
the authorities of?
a. Suppression of the right to express one’s views
b. Suppression of the freedom of religion
c. Suppression of right to justice
d. Suppression of the freedom of speech
Answer: D. Suppression of the freedom of speech
Rationalization:
HE 1987 CONSTITUTION OF THE REPUBLIC OF THE PHILIPPINES –
ARTICLE III
Section 4. No law shall be passed abridging the freedom of speech, of
expression, or of the press, or the right of the people peaceably to assemble and
petition the government for redress of grievances.
An individual has the right to file the WRIT OF AMPARO before the investigation
of an administrative case filed against him/her. What fundamental right is invoked
by the individual?
a. Right to be defended by a public attorney
b. Right to life, liberty and security
c. Right to self-defense
d. Right to due process
Answer: B. Right to life, liberty and security
Rationalization:
Under the Rules of the Supreme Court, the petition for a Writ of Amparo is a
remedy available to any person whose right to life, liberty and security is violated or threatened with violation by an unlawful act or omission of a public official or
employee, or of a private individual or entity.
The logo of the Olympic Games represents the interconnectedness of the
countries in the world. While the games highlight the strength of nation in sports.
What does the global activity promote?
a. World tourism
b. World peace
c. World industry
d. World history
Answer: B. World Peace
Rationalization:
The International Olympic Committee (IOC) actively pursues the goals of
protecting the interests of the athletes and sport in general, and contributing to
the search for peaceful and diplomatic solutions to the conflicts around the world
Punishment is a form of social control. If death penalty is imposed to scare
offenders and the rest of society into following the rules, the purpose of
punishment is ______.
a. Retribution
b. Deterrence
c. Reformation
d. Reparation
Answer: B. Deterrence
Rationalization:
Deterrence prevents future crime by frightening the defendant or the public
Arranged according to its establishment during the American Regime:
1. The Commonwealth Government
2. The Military Government
3. The Civil Government
a. 1 2 3
b. 2 3 1
c. 3 2 1
d. 2 1 3
Answer: B. 2 3 1
Rationalization:
The U.S. government declared military rule in the Philippines on December 21,
1898. The U.S. government replaced the military government in the Philippines with
a civilian government headed by William Howard Taft on July 4, 1902. Then a
constitution establishing the Commonwealth of the Philippines was approved by 96
percent of voters in a referendum held on May 14, 1935
What was the civil government established during the Japanese occupation of
the Philippines?
a. The Japanese Imperial Government
b. The Philippine Republic
c. The Puppet Government of Japan
d. The Philippine Executive Commission
Answer: D. The Philippine Executive Commission
Rationalization:
The Second Philippine Republic was established during the Japanese
occupation of the Philippines. At the outset of the occupation, the Japanese
government established a military administration over the Philippines, as well as
the Philippine Executive Commission, composed of several pre-war Filipino
political leaders
What is/are the requisite/s of a good written constitution?
A. Brief
B. Broad
C. Definite
D. All of the given options
Answer: D. All of the given options
Rationalization:
A good written constitution must possess three characteristics: brief, broad, and
definite.
Brief: since its outlines the objectives of the state not on a limited scope but in a
measurable extent.
Broad: in its extent with the purpose of outlining the framework of the
organization of the state.
Definite: The possible inclusion of vague or unclear words or phrases having two
or more possible meanings may cause conflict of interpretation.
“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
Answer: C. Preamble
Rationalization:
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 the 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 a regime of truth, justice,
freedom, love, equality, and peace, do ordain and promulgate this Constitution.
Which one is the human right to life?
a. Equal treatment before the law
b. Political independence
c. Fair trial
d. Freedom from inhuman punishment
Answer: D. Freedom from inhuman punishment
Rationalization:
Article 3 of Human Rights protects you from:
torture (mental or physical) , inhuman or degrading treatment or punishment, and
deportation or extradition (being sent to another country to face criminal charges)
if there is a real risk you will face torture or inhuman or degrading treatment or
punishment in the country concerned
During the Marcos regime, what shift in form of government was made that
introduced the new positions of a prime minster and a single legislative body of
assemblymen?
a. Constitutional
b. Federal
c. Parliamentary
d. Welfare state
Answer: C. Parliamentary
Rationalization:
Marcos instituted martial law in the lead up to the 1973 elections; his two
presidential terms were complete but he planned to continue to lead as the Prime
Minister under a new parliamentary system
Singapore’s head of state is the ______ while the head of government is the
______.
a. Prime minister : king
b. Prime minister : president
c. King : prime minister
d. President : prime minister
Answer: D. President : prime minister
Rationalization:
The Government in Singapore is modelled after the Westminster system, with 3
separate branches: the Legislature (which comprises the President and
Parliament), the Executive (which comprises Cabinet Ministers and office holders, and is led by the Prime Minister) and the Judiciary. The Prime Minister is
the Head of Government and the President is the Head of State.
What is the most widely known protocol on international environmental
agreement
a. Brussels
b. Kyoto
c. Rio de Janeiro
d. Manila
Answer: B. Kyoto
Rationalization:
The Kyoto Protocol is an international agreement that called for industrialized
nations to reduce their greenhouse gas emissions significantly. Other accords,
like the Doha Amendment and the Paris Climate Agreement, have also tried to
curb the global-warming crisis.
The Malaysian monarch exercises powers upon advice by the ______.
a. Governor
b. Sultans
c. Prime Minister
d. Parliament
Answer: C. Prime Minister
Rationalization:
While the Monarch remains the Head of State real executive power is vested in
the cabinet led by the prime minister as Head of Government.
Answer: C. Prime Minister
Rationalization:
While the Monarch remains the Head of State real executive power is vested in
the cabinet led by the prime minister as Head of Government.
Answer: A. Marriage
Rationalization:
THE 1987 CONSTITUTION OF THE REPUBLIC OF THE PHILIPPINES –
ARTICLE XV - THE FAMILY
Section 2. Marriage, as an inviolable social institution, is the foundation of the
family and shall be protected by the State.
When Joseph concealed the fact during marriage that he was a homosexual, he
committed the crime of _______.
a. Concubinage
b. Adultery
c. Fraud
d. No crime
Answer: C. Fraud
Rationalization:
Courts have occasionally considered one spouse’s concealed homosexual
activities or tendencies as a fraudulent act, and thus establishing the basis for an
annulment
Which constitutional safeguard exists such that the executive can turn down
legislative measures and congress can move to remove the president?
a. Check-and-balance
b. Boycott
c. Veto power
d. Impeachment
Answer: A. Check and balance
Rationalization:
Checks and balances, principle of government under which separate branches
are empowered to prevent actions by other branches and are induced to share
power. Checks and balances are applied primarily in constitutional governments
Which privileges gives any person in the Philippines to be bodily presented in
court for charges of a crime for which he has right of counsel and trial?
a. Ex-post facto law
b. Writ of habeas corpus
c. Fourth amendment
d. Writ of habeas data
Answer: B. Writ of habeas corpus
Rationalization:
Writ of habeas corpus (which literally means to “produce the body”) is a court
order demanding that a public official (such as a warden) deliver an imprisoned
individual to the court and show a valid reason for that person’s detention.
Under whose presidency was the Family Code of the Philippines promulgated?
a. Gloria Macapagal Arroyo
b. Fidel V. Ramos
c. Corazon C. Aquino
d. Ramon Magsaysay
Answer: C. Corazon C. Aquino
Rationalization:
The Family Code of the Philippines (Executive Order no. 209) was signed into
law by then President Corazon Aquino on July 6, 1987
What is the legal age for entering marriage under Family Code?
a. 16 for bots, 18 for girls
b. 24
c. 18 for girls, 23 for boys
d. 18
Answer: A. 18
Rationalization:
EXECUTIVE ORDER NO. 209
THE FAMILY CODE OF THE PHILIPPINES
Art. 5. Any male or female of the age of eighteen years or upwards not under any
of the impediments mentioned in Articles 37 and 38, may contract marriage.
What national policy establishes and describes national standards and levels for
outcomes of education and training?
a. Education for all
b. Millennium Development Goals
c. Philippine Qualifications framework
d. Inclusive Education
Answer: C. Philippine Qualifications framework
Rationalization:
The Philippine Qualifications Framework (PQF) is a quality-assured national
system for the development, recognition, and award of qualifications based on
standards of knowledge, skills, and values acquired in different ways and
methods by learners and workers of the country.It is a national policy describing
the levels of educational qualifications and setting standards for qualification
outcomes.
How is marriage characterized in the 1987 Family Code?
a. Lasting
b. Temporary
c. Permanent
d. On trial bases
Answer: C. Permanent
Rationalization:
EXECUTIVE ORDER NO. 209
THE FAMILY CODE OF THE PHILIPPINES
Article 1. Marriage is a special contract of permanent union between a man and a
woman entered into in accordance with law for the establishment of conjugal and
family life.
Who can solemnize marriage on board a ship or plane during travel?
a. Stewardess
b. Steward
c. Captain of ship
d. Senior passenger
Answer: C. Captain of ship
Rationalization:
EXECUTIVE ORDER NO. 209
THE FAMILY CODE OF THE PHILIPPINES
Art. 31. A marriage in articulo mortis between passengers or crew members may
also be solemnized by a ship captain or by an airplane pilot not only while the
ship is at sea or the plane is in flight, but also during stopovers at ports of call
Until the revolution in 1932, Thailand was an absolute _______.
a. Republic
b. Dictatorship
c. Commonwealth
d. Monarchy
Answer: D. Monarchy
Rationalization:
Promoters Revolution, also called Revolution of 1932, (June 24, 1932), in the
history of Thailand, a bloodless coup that overthrew the Thai king, put an end to
absolute monarchy in Thailand
China’s National People’s Congress is the highest organization of the state
government which meets every _____.
a. Week
b. Month
c. Year
d. Day
Answer: C. Year
Rationalization:
The NPC meets in session once a year. A session of the NPC may be convened
at any time the Standing Committee deems it necessary or when more than one-fifth of the deputies to the NPC propose it.
U.S. government is much alike that of the Philippines with few exceptions such
as presidential elections won by _____ votes.
a. Congressional
b. Populist
c. Electoral college
d. Parliamentary
Answer: C. Electoral college
Rationalization:
Electoral college is the system by which the president and vice president of the
United States are chosen. It was devised by the framers of the United States
Constitution to provide a method of election that was feasible, desirable, and consistent with a republican form of government. For the results of U.S.
presidential elections, see the table.
No one is above the law. Ours is a government laws and not of men. Which
principle is referred to?
a. Right of the minority
b. Rule of law
c. Sovereignty of the people
d. Democracy
Answer: B. Rule of law
Rationalization:
Rule of law is a principle under which all persons, institutions, and entities are
accountable to laws that are: Publicly promulgated, equally enforced,
independently adjudicated and consistent with international human rights
principles
What was our government under the 1935 Constitution?
a. Revolutionary
b. Monarchy
c. Commonwealth
d. Militar
Answer: C. Commonwealth
Rationalization:
The 1935 Constitution provided the legal basis of the Commonwealth
Government which was considered a transition government before the granting
of the Philippine independence with American-inspired constitution.
In whose presidency was the famous MIRACLE RICE produced?
a. Ferdinand Marcos
b. Fidel Ramos
c. Joseph Estrada
d. Gloria Arroyo
Answer: A. Ferdinand Marcos
Rationalization:
Miracle rice contributed to addressing hunger and, for a time, helped the
Philippines become a rice-exporting country when then president Ferdinand
Marcos introduced the variety to Filipino farmers
It means that when a person is charged with an offense and the case is
terminated either by acquittal or conviction or in any other manner without the
express consent of the accused, the latter cannot again be charged with the
same or identical offense.
a. Writ of Habeas Corpus
b. Right against illegal detention
c. Writ of Amparo
d. Right against double jeopardy
Answer: D. Right against double jeopardy
Rationalization:
Double jeopardy is a procedural defence that prevents an accused person from
being tried again on the same (or similar) charges following a valid acquittal or
conviction
This court shall have jurisdiction over civil and criminal cases involving graft and
corruption practices and such offenses committed by public officers and
employees in relation to their offices as may be determined by law.
a. Court of Appeals
b. Supreme Court
c. Regional Trial Court
d. Sandiganbayan
Answer: C. Sandiganbayan
Rationalization:
The Philippine Constitution of 1973 (Sec. 5, Article VIII) created a special court,
known as Sandiganbayan, with jurisdiction over criminal and civil cases involving
graft and corrupt practices and such other offenses committed by public officers
and employees, including those in government-owned or controlled corporations.
Every December 10, schools and civic groups gather to celebrate?
a. Human Rights Day
b. Mother’s Day
c. Independence Day
d. United Nation’s Day
Answer: A. Human Rights Day
Rationalization:
Human Rights Day is observed every year on 10 December — the day the
United Nations General Assembly adopted, in 1948, the Universal Declaration of
Human Rights (UDHR)
These are the only officials removable by Impeachment.
a. The President, Vice-President, members of the Supreme Court, members of
the Constitutional Commissions, and the Ombudsman.
b. The President, Vice-President, members of the Supreme Court, members of
the Constitutional Commissions, and the Senators.
c. The President, Vice-President, members of the Supreme Court, members of
the Constitutional Commissions, and the members of the House of
Representatives.
d. The President, Vice-President, members of the Supreme Court, members of
the Constitutional Commissions, and the members of the House of
Representatives, the Senators, and the Ombudsman
Answer: A. The President, Vice-President, members of the Supreme Court,
members of the Constitutional Commissions, and the Ombudsman.
Rationalization:
THE 1987 CONSTITUTION OF THE REPUBLIC OF THE PHILIPPINES –
ARTICLE XI
Section 2. The President, the Vice-President, the Members of the Supreme
Court, the Members of the Constitutional Commissions, and the Ombudsman
may be removed from office on impeachment for, and conviction of, culpable
violation of the Constitution, treason, bribery, graft and corruption, other high
crimes, or betrayal of public trust. All other public officers and employees may be
removed from office as provided by law, but not by impeachment
A package sent by a balikbayan was discovered open. This is a case of:\
a. Substitution
b. Pilferage
c. Rubbery
d. Oppression
Answer: B. Pilferage
Rationalization:
Pilferage is the crime of theft of small amounts or small items.
According to POEA, the country with the highest OFW population is the
________.
a. United States of America
b. United Arab Emirates
c. Saudi Arabia
d. United Kingdom
Answer: C. Saudi Arabia
Rationalization:
Since 2004, Saudi Arabia has been the number one country in POEA’s
deployment statistics. It has been the source of most jobs with an average of
287,000 jobs yearly
Where would you commit a drug dependent for him to achieve a natural,
tensionless, and anxiety-free state?
a. NFPI
b. DARN
c. DARE
d. Bukang Liwayway Center
Answer: D. Bukang Liwayway Center
Rationalization:
Admits drug cases for residential rehabilitation. Therapy is a combination of
primal and family therapy with skills training and job placement.
The Lansdowne portrait is an iconic oil-on-canvas portrait of George Washington,
the first President of the United States, painted by ________.
a. Charles Wilson Feale
b. Benjamin West
c. Gilbert Stuart
d. Thomas Sully
Answer: C. Gilbert Stuart
Rationalization:
The Lansdowne portrait is an iconic life-size portrait of George Washington
painted by Gilbert Stuart in 1796. It depicts the 64-year-old President of the
United States during his final year in office.
Who is currently the longest-reigning monarch in British history?
a. Queen Elizabeth I
b. Queen Elizabeth II
c. Queen Elizabeth III
d. Queen Elizabeth IV
Answer: B. Queen Elizabeth II
Rationalization:
Queen Elizabeth II became the longest-reigning British monarch on 9 September
2015 when she surpassed the reign of her great-great-grandmother Victoria.
The Philippine Constitution, recognizing the natural right and duty of parents in
rearing the youth for civic efficiency and developing moral character, mandates
that this should be supported by the ________.
a. community
b. schools
c. church
d. government
The Philippine Constitution, recognizing the natural right and duty of parents in
rearing the youth for civic efficiency and developing moral character, mandates
that this should be supported by the ________.
a. community
b. schools
c. church
d. government
The Comprehensive Land Reform Program (CARP) provides a person,
association, or corporation cannot own or retain agricultural land which is more
than how many hectares?
a. 10
b. 7
c. 5
d. 3
Answer: C. 5
Rationalization:
REPUBLIC ACT NO. 6657
AN ACT INSTITUTING A COMPREHENSIVE AGRARIAN REFORM PROGRAM
TO PROMOTE SOCIAL JUSTICE AND INDUSTRIALIZATION, PROVIDING
THE MECHANISM FOR ITS IMPLEMENTATION, AND FOR OTHER
PURPOSES
SECTION 6. Retention Limits. – “…but in no case shall retention by the
landowner exceed five (5) hectares
Which best describes the division of the Legislature into the Senate and the
House of Representatives?
a. Bipartisanism
b. Co-legislative power
c. Unicameralism
d. Bicameralism
Answer: D. Bicameralism
Rationalization:
Bicameral Congress of the Philippines is consist of the Senate (upper chamber),
and the House of Representatives (lower chamber.
What document promise contained concrete promise of the Americans of the
Philippine Independence “as soon as stable government can be established?
a. Preamble of Jones Law
b. Fairfield Bill of 1924
c. Preamble of the Commonwealth Government
d. First 1919 Parliamentary Mission of U.S.
Answer: A. Preamble of Jones Law
Rationalization:
Preamble of Jones Law
It’s preamble stated the intent to grant Philippine independence as soon as a
stable government was established. The Philippine Senate replaced the
Philippine Commission as the upper house of the legislature.
Participation in governance, including the right to vote and right to be elected in
public office as well is secured within the citizenry’s________
a. Right to due process
b. Right to suffrage
c. Political rights
d. Socio-civic rights
Answer: C. Political rights
Rationalization:
Political rights - the rights that involve participation in the establishment or
administration of a government and are usually held to entitle the adult citizen to
exercise of the franchise, the holding of public office, and other political activities
Who was the first economist to explain comparative advantage?
a. David Ricardo
b. Ronald Coase
c. Arthur C. Pigou
d. Adam Smith
Answer: A. David Ricardo
Rationalization:
Comparative advantage, economic theory, first developed by 19th-century British
economist David Ricardo, that attributed the cause and benefits of international
trade to the differences in the relative opportunity costs (costs in terms of other
goods given up) of producing the same commodities among countries
In economics, ________ is a rise in the general level of prices of goods and
services in an economy over a period of time.
a. Inflation
b. Mercantilism
c. Depression
d. Free trade
Answer: A. Inflation
Rationalization:
Inflation is a quantitative measure of the rate at which the average price level of a
basket of selected goods and services in an economy increases over some
period of time. It is the rise in the general level of prices where a unit of currency
effectively buys less than it did in prior periods
Every year, income taxes are filed by payer of 18 years and above. How do
government and company workers pay their taxes?
a. Advance credit
b. Withholding taxes
c. Salary deduction
d. Cash payment on March 15
Answer: B. Withholding taxes monthly
Rationalization:
A withholding tax is an amount that an employer withholds from employees’
wages and pays directly to the government. The amount withheld is a credit
against the income taxes the employee must pay during the year.
There had been recent bank runs and bank closures. How much of the deposits
is covered for reimbursement by the PDIC or Philippine Deposit and Insurance
Corporation:
a. ₱100,000
b. ₱50,000
c. ₱500,000
d. ₱1,000,000
Answer: C. ₱500,000
Rationalization:
PDIC provides a maximum deposit insurance coverage of PhP500,000 per
depositor per bank. To pay claims on insured deposits, PDIC builds up the
Deposit Insurance Fund (DIF) primarily through assessments of banks at an
annual flat rate of 1/5 of 1% of their total deposit liabilities
Of the following, which is imposed a final tax of ten percent (10%)?
a. PCSO and lotto winnings
b. Books, literary works and musical compositions
c. Currency bank deposit
d. Royalties
Answer: B. Books, literary works and musical compositions
Rationalization:
Royalties on books as well as other literary works, and royalties on musical
compositions shall be subject to a final tax of 10%
Democracy refers to the involvement of all the citizens in the control of the
government, while an oligarchy relegates control of government to ________.
a. a religious group
b. a selected few
c. an autocrat
d. the mother country
Answer: B. a selected few
Rationalization:
Oligarchy, government by the few, especially despotic power exercised by a
small and privileged group for corrupt or selfish purposes. Oligarchies in which
members of the ruling group are wealthy or exercise their power through their
wealth are known as plutocracies
When one controls the supply / production of goods, this implies
a. Inflation
b. Economic stability
c. Monopoly
d. Economic equilibrium
Answer: C. Monopoly
Rationalization:
Monopoly is an economic market structure where a specific person or enterprise
is the only supplier of a particular good
Which power of the state enables it to impose charge of burden upon person,
property or property rights for the use and support of the government in its
discharge of appropriate functions?
a. Eminent domain
b. Expropriation
c. Value added tax
d. Taxation
Answer: D. Taxation
Rationalization:
Taxation is the imposition of compulsory levies on individuals or entities by
governments. Taxes are levied in almost every country of the world, primarily to
raise revenue for government expenditures, although they serve other purposes
as well.
Gross Domestic Product is the sum of the market value of the _____.
a. Intermediate goods
b. Final goods and services
c. Interior goods and services
d. Manufactured goods
Answer: B. Final goods and services
Rationalization:
Gross Domestic Product represents the total monetary value of all final goods
and services produced (and sold on the market) within a country during a period
of time (typically 1 year).
What forces humans to make tradeoffs?
a. Productive inefficiency
b. Confusion
c. Scarcity
d. More than one political party
Answer: C. Scarcity
Rationalization:
Since consumers’ resources such as time, attention, and money are limited, they
must choose how to best allocate them by making tradeoffs. The concept of
trade-offs due to scarcity is formalized by the concept of opportunity cost. The
opportunity cost of a choice is the value of the best alternative forgone.
Who ultimately decides what goods and services will be produced in a market
economy?
a. none of these
b. producing firms
c. the ruling political party
d. consumers
a. Demand will decrease.
Answer: D. Consumers
Rationalization:
In a market economy, the wants of the consumers and the profit motive of the
producers will decide what will be produced
Which of the following means everything else held constant?
a. carpe diem
b. post hoc, proctor hoc
c. ceteris paribus
d. none of these
Answer: C. Ceteris paribus
Rationalization:
Ceteris paribus, literally “holding other things constant,” is a Latin phrase that is
commonly translated into English as “all else being equal.” A dominant
assumption in mainstream economic thinking, it acts as a shorthand indication of
the effect of one economic variable on another, provided all other variables
remain the same
When the price of a good increases
a. Demand will decrease.
b. Quantity demanded will decrease.
c. Demand will increase.
d. Quantity demanded will increase
Answer: B. Quantity demanded will decrease.
Rationalization:
As the price of a good increases, then the buying power of individuals decreases
and the quantity demanded decreases. For example, at 20 cents per apple, we
are able to purchase 5 apples for $1 but if the price falls to 10 cents, we would be
able to buy 10 apples for $1
The largest component of spending in GDP is
a. Investment spending.
b. Government spending.
c. Consumption spending.
d. Net export spending
Answer: C. Consumption spending
Rationalization:
Consumption expenditure by households is the largest component of GDP,
accounting for about two-thirds of the GDP in any year. This tells us that
consumers’ spending decisions are a major driver of the economy.
The labor force is the sum of
a. Employed workers and unemployed workers.
b Unemployed workers and the working age population.
c Employed workers and discouraged workers.
d Employed workers and individuals not looking for work
Answer: A. employed workers and unemployed workers.
Rationalization:
The labor force is the sum of the employed plus the unemployed. People are
considered employed if they work at least one hour for pay or at their own
business at any time during the week including the twelfth day of the month.
.The unemployment rate is
a. the percentage of the labor force that is employed.
b. The percentage of the labor force that is unemployed.
c. The percentage of the number employed that is unemployed.
d. The percentage of the working age population that is employed
Answer: B. The percentage of the labor force that is unemployed.
Rationalization:
The unemployment rate is defined as the percentage of unemployed workers in
the total labor force. Workers are considered unemployed if they currently do not
work, despite the fact that they are able and willing to do so. The total labor force
consists of all employed and unemployed people within an economy
A full time student who is not working is categorized as
a. not in the labor force
b. A discouraged worker
c. Frictionally unemployed
d. unemployed
Answer: A. not in the labor force
Rationalization:
A full-time student is not considered a part of the labor force if he/she is not
working as he/she is willingly out of the workforce and is occupied in studies
The short term unemployment arising from the process of matching workers with
jobs is called
a. unnatural unemployment.
b. Frictional unemployment.
c. Seasonal unemployment.
d. Cyclical unemployment.
Answer: B. Frictional unemployment.
Rationalization:
The unemployment that occurs in the meantime, as workers move between jobs,
is called frictional unemployment
Unemployment arising from a persistent mismatch between the skills and
characteristics of workers and the requirements of jobs (often due to
technological change and/or globalization) is called
a. Cyclical unemployment.
b. Structural unemployment.
c. Frictional unemployment.
d. Unnatural unemployment
Answer: B. Structural unemployment.
Rationalization:
The structurally unemployed are individuals who have no jobs because they lack
skills valued by the labor market, either because demand has shifted away from
the skills they do have, or because they never learned any skills
An example of final good would be
a. a soy latte sold by Starbucks to a student.
b. The coffee beans sold to Starbucks.
c. The whipped cream sold to Starbucks.
d. The soy milk sold to Starbucks.
Answer: A. a soy latte sold by Starbucks to a student.
Rationalization:
A final good is an item produced for the direct use by end consumers. Final
goods are also referred to as consumer goods.
When firms buy or build facilities in foreign countries they are engaging in
a. foreign direct investment
b. international law breaking
c. foreign portfolio investment
d. none of these
Answer: A. foreign direct investment
Rationalization:
Foreign direct investment is an investment by a firm from another country in a
business that it controls in another country. Example is an American technology
company builds and operates a data center in Canada
Normal goods are those that buyers buy
a. less of when their incomes decrease.
b. a lot of throughout the year.
c. During normal times.
d. More of when their income decrease
a. Ancient Egypt
Answer: A. less of when their incomes decrease.
Rationalization:
A normal good is a good that experiences an increase in its demand due to a rise
in consumers’ income. In other words, if there’s an increase in wages, demand
for normal goods increases while conversely, wage declines or layoffs lead to a
reduction in demand.
Where the first known system of taxation did took place?
a. Ancient Egypt
b. Kingdom of Saudi Arabia
c. Leviticus Days
d. Modern Israel
Answer: A. Ancient Egypt
Rationalization:
The first known system of taxation was in Ancient Egypt around 3000–2800 BC
in the First Dynasty of Egypt of the Old Kingdom of Egypt. The earliest and most
widespread form of taxation was the corvée and tithe
Which of the following would be an example of substitute goods?
a. computers and printers
b. gasoline and automobiles
c. automobiles and motorcycles
d. cooking oil and golf balls
Answer: C. automobiles and motorcycles
Rationalization:
Substitute goods are two alternative goods that could be used for the same
purpose.
Which of the following would be an example of a pair of complements?
a. Gasoline and automobiles
b. apples and bananas
c. cooking oil and golf balls
d. shoes and sandals.
Answer: A. Gasoline and automobiles
Rationalization:
Complementary good is a good whose use is related to the use of an associated
or paired good. Example, an automobile needs gasoline for it to function
Which of the following is not a factor of production?
a. the manager of the local tire shop
b. $1,000
c. a drill press in a machine shop
d. an acre of farmland
a. Only in cities, towns, and villages.
Answer: B. $1,000
Rationalization:
Between the four factors of production, Land, Labor, Capital, and
Entrepreneurship, money is not included. Money is considered a lubricant; it is
the resource that allows resources to flow between factors
Where are buyers and sellers brought together?
a. Only in cities, towns, and villages.
b. In the market
c. it could be anywhere
d. Only in shopping malls
Answer: B. In the market
Rationalization:
A market is an institution that brings together buyers and sellers of goods or
services, who may be either individuals or businesses.
The theory that population increases by geometrical ratio while the means of
subsistence increases by arithmetical ratio is attributed to?
a. Karl Marx
b. Emile Durkheim
c. Robert Malthus
d. Aristotle
Answer: C. Robert Malthus
Rationalization:
The Malthusian Theory of Population is the theory of exponential population
growth and arithmetic food supply growth. The theory was proposed by Thomas
Robert Malthus. He believed that a balance between population growth and food
supply can be established through preventive and positive checks
Numismatics is the study of
a. coins
b. numbers
c. stamps
d. space
Answer: A. coins
Rationalization:
Numismatics means the study or act of collecting of coins, paper money, and
medals.
Which countries are the members of CACM (Central American Common
Market)?
a. Costa Rica, EI Salvador, Guatemala, Honduras, Nicaragua
b. Bogota, EI Salvedor, Honduras
c. Washington DC, Bogota, Guatemala
d. All of the above
Answer: A. Costa Rica, EI Salvador, Guatemala, Honduras, Nicaragua
Rationalization:
Central American Common Market (CACM) is the association of five Central
American nations that was formed to facilitate regional economic development
through free trade and economic integration. Established by the General Treaty
on Central American Economic Integration signed by Guatemala, Honduras, El
Salvador, and Nicaragua in December 1960, its membership expanded to
include Costa Rica in July 1962. The CACM is headquartered in Guatemala City.
The term used to describe many that flows into a country to take advantage of
high rates of interest is called
a. hot money
b. hard sector
c. hard currency
d. None of the above
Answer: A. Hot money
Rationalization:
Hot money is capital that investors regularly move between economies and
financial markets to profit from highest short-term interest rates.
Corazon Aquino is to Freedom Constitution as Ferdinand Marcos is to______
a. Subservience to America
b. Ties with Asian nations
c. New society
d. “Filipinos First” policy
Answer: C. New Society
Rationalization:
In any of President Ferdinand Marcos’s key speeches, he was most inspiring
when he would talk about his vision of the New Society, or Bagong Lipunan, in
which every individual Filipino could be free to fulfill their potential as human
beings.
.For the organization and registration of a cooperative, what is the required
minimum number of persons?
a. 25
b. 30
c. 15
d. 20
Answer: C. 15
Rationalization:
REPUBLIC ACT 9520 or “Philippine Cooperative Code of 2008”.
“ART. 10. Organizing a Primary Cooperative. Fifteen (15) or more natural
persons who are Filipino citizens, of legal age, having a common bond of interest
and are actually residing or working in the intended area of operation, may
organize a primary cooperative under this Code
A country does not need to specialize in everything. She needs to concentrate on
that thing which she is good at. This thought is in line with the economic principle
of_____.
a. profit and loss
b. supply and demand
c. opportunity and cost
d. comparative advantage
Answer: D. Comparative advantage
Rationalization:
Comparative advantage is an economic term that refers to an economy’s ability
to produce goods and services at a lower opportunity cost than that of trade
partners. A comparative advantage gives a company the ability to sell goods and
services at a lower price than its competitors and realize stronger sales margins
It refers to the full and fair equivalent of the property taken from its owner by the
expropriator and the gauge for computation is not the taker’s gain but the owner’s
loss. In order for the payment to be “just”, it must be real, substantial, full, and
ample; made within a reasonable time from the taking of the property.
a. Property
b. Public Use
c. Eminent Domain
d. Just Compensation
Answer: D. Just Compensation
Rationalization:
Just compensation refers to the compensation individuals receive when their
property gets seized by the government for public use
Martial law remained in force until 1981 under Procalamation # ________.
a. 1081
b. 1425
c. 9994
d. 7610
Answer: A. 1081
Answer: A. 1081
Rationalization:
Proclamation No. 1081 was the document which contained formal proclamation
of martial law in the Philippines by President Ferdinand Marcos and was formally
lifted on January 17, 1981.
Republic Act 9994 is also known as the ________.
a. Anti-Child Abuse Law
b. K-12 Act
c. Expanded Senior Citizen’s Act
d. Prison Modernization Law
Answer: C. Expanded Senior Citizen’s Act
Rationalization:
REPUBLIC ACT NO. 9994
Section 1. Title. – This Act Shall be known as the “Expanded Senior Citizens Act
of 2010.”
Students on the secondary schools are asked to go home when:
a. typhoon signal no. 3 is raised
b. typhoon signal no. 1 is raised
c. typhoon signal no. 2 is raised
d. there is flood caused by high tide
Answer: C. typhoon signal no. 2 is raised
Rationalization:
Signal No. 1: pre-school level, in the affected area,
Signal No. 2: pre-school, elementary and secondary levels, in the affected area
Signal No. 3: pre-school, elementary, secondary, and tertiary levels, in the
affected area
.The main product during the early galleon trade was _____.
a. Rugs from Persia
b. Precious metals from India
c. Chinese silk
d. Philippine products
Answer: C. Chines silk
Rationalization:
Chinese silk was by far the most important cargo, other exotic goods, such as
perfumes, porcelain, cotton fabric (from India), and precious stones, were also
transshipped via the galleon
Economically speaking, which is a glorious period?
a. Stability
b. Depression
c. Boom
d. Recession
Answer: C. Boom
Rationalization:
A boom is a period of rapid economic expansion resulting in higher GDP, lower
unemployment, a higher inflation rate and rising asset prices. Booms usually
suggest the economy is overheating creating a positive output gap and
inflationary pressures.
The growth of a free economy follows the path of a roller coaster. Which one is
referred to as the brief and small decline business activity?
a. Depression
b. Recession
c. Boom
d. Stability
Answer: B. Recession
Rationalization:
Recessions are periods of economic and business contraction. During a
recession, unemployment rises, production slows down, sales start to drop
because of a decline in demand, and incomes become stagnant or decline.
The law which states that as more and more of one commodity is consumed, its
additional or extra satisfaction decreases as:
a. Marginal utility
b. Diminishing marginal utility
c. Diminishing return
d. Law of downward sloping demand
Answer: B. Diminishing marginal utility
Rationalization:
Law Of Diminishing Marginal Utility states that all else equal as consumption
increases the marginal utility derived from each additional unit declines. Marginal
utility is derived as the change in utility as an additional unit is consumed. Utility
is an economic term used to represent satisfaction or happiness
The collapse of worls economy in 1930’s is referred to as?
a. Black Death
b. Bubunic Plaque
c. Great Depression
d. The Cold War
Answer: C. Great Depression
Rationalization:
The Great Depression was the worst economic downturn in US history. It began
in 1929 and did not abate until the end of the 1930s. The stock market crash of
October 1929 signaled the beginning of the Great Depression. By 1933,
unemployment was at 25 percent and more than 5,000 banks had gone out of
business
Which problem of resources falls under the task of economic allocation?
a. Quality
b. Scarcity
c. Standards
d. Excellence
Answer: B. Scarcity
Rationalization:
Scarcity refers to the basic economic problem, the gap between limited – that is,
scarce – resources and theoretically limitless wants. This situation requires
people to make decisions about how to allocate resources efficiently, in order to
satisfy basic needs and as many additional wants as possible.
Singapore is recognized by Transparency International as the ______ corrupt
nation is Asia.
a. Modesty
b. Most
c. Least
d. Extremely
Answer: C. Least
Rationalization:
According to a Transparency International survey, an overwhelming majority of
people in Singapore do not witness cases of corruption by public officials or
institutions in their lifetime. As of 2020, Singapore is ranked as the fourth least
corrupt country in the world and the most transparent in Asia
The most powerful man in the Malaysian Government is the_____
a. Prime Minister
b. King
c. Governor
d. President
Answer: A. Prime Minister
Rationalization:
The government of Malaysia is a federal parliamentary democracy with a
constitutional monarch (somewhat similar to the one in Great Britain) and a prime
minister. The king only acts on the advice of both parliament and the cabinet, and
in practice the prime minister is the most powerful political authority.
Which law promulgates a comprehensive policy and a national system for early
childhood care and development?
a. R.A. 7836
b. R.A. 7610
c. R.A. 8980
d. R.A. 9238
Answer: C. R.A. 8980
Rationalization:
REPUBLIC ACT NO. 8980
AN ACT PROMULGATING A COMPREHENSIVE POLICY AND A NATIONAL
SYSTEM FOR EARLY CHILDHOOD CARE AND DEVELOPMENT (ECCD),
PROVIDING FUNDS THEREFOR AND FOR OTHER PURPOSES
The democratic government of Malaysia differs from that of the Philippines
because it is a _____ government.
a. republican-federal
b. federal-monarchy
c. constitutional-monarchy
d. federal-representative
Answer: B. federal-monarchy
Rationalization:
The government of Malaysia is a federal parliamentary democracy with a
constitutional monarch (somewhat similar to the one in Great Britain) and a prime
minister
In accordance to Republic Act No. 9225, the Philippines recognizes.
a. Dual Citizenship
b. Jus Soli only
c. Jus Sanguinis only
d. Citizenship of the parents
Answer: A. Dual Citizenship
Rationalization:
Republic Act No. 9225 otherwise known as the Citizenship Retention and
Reacquisition Act of 2003 declares that natural-born citizens of the Philippines
who become citizens of another country shall be deemed not to have lost their
Philippine citizenship.
Of the branches of the government, which has the responsibility to
formulate laws?
a. Legislative
b. Executive
c. Cabinet
d. Judiciary
Answer: A. Legislative
Rationalization:
The Legislative branch is authorized to make laws, alter, and repeal them
through the power vested in the Philippine Congress. This institution is divided
into the Senate and the House of Representatives.
Of the following, who issued the world’s first written legal code?
a. Hammurabi
b. Hannibal
c. Sargon of Akkad
d. Mener of Egypt
Answer: A. Hammurabi
Rationalization:
The Code of Hammurabi was one of the earliest and most complete written legal
codes and was proclaimed by the Babylonian king Hammurabi, who reigned from
1792 to 1750 B.C. Hammurabi expanded the city-state of Babylon along the
Euphrates River to unite all of southern Mesopotamia
The following are the concerns of Economics, except…
a. Who wields the power?
b. For whom to produce?
c. What to produce?
d. How to produce?
Answer: A. Who wields the power?
Rationalization:
In order to meet the needs of its people, every society must answer three basic
economic questions:
What should we produce?
How should we produce it?
For whom should we produce it?
Of the following, which sets a limit to an individual’s consumption?
a. product utility
b. seller’s motivational style
c. budget constraint
d. demand
Answer: C. Budget constraint
Rationalization:
A budget constraint occurs when a consumer is limited in consumption patterns
by a certain income. Temporary budget constraints can be overcome by
borrowing, but in the long term budget constraints are determined by income
such as rent and wages.
The retirement age for members of the Supreme Court in the 1935
constitution –
a. 65
b. 60
c. 70
d. not given
Answer: c. 70
Rationalization:
The 1935 Constitution
SEC. 9. The members of the Supreme Court and all judges of inferior courts shall
hold office during good behavior, until they reach the age of seventy years, or
become incapacitated to discharge the duties of their office.
If at the beginning of the term of the President, the President-elect dies –
a. Vice President becomes President
b. Vice President shall act as President
c. Special election will be called
d. None of the above
Answer: A. Vice President becomes President
Rationalization:
LINE OF SUCCESSION
The constitution provides for a line of succession in the event that the elected
President of the Philippines is not able to discharge the duties of his office due to
death, disability, or resignation. The following is the line of succession:
1. Vice President
2. Senate President
3. Speaker of the House of Representatives
It refers to a system of government wherein the power lies only on one
person.
a. Democracy
b. Communist
c. Monarchy
d. Parliamentary
Answer: C. Monarchy
Rationalization:
Monarchy, political system based upon the undivided sovereignty or rule of a
single person. The term applies to states in which supreme authority is vested in
the monarch, an individual ruler who functions as the head of state and who
achieves his or her position through heredity
This year’s SONA was focused on education and economy. What is
meant by SONA?
a. Speech of the Nation Assembly
b. State of the Nation Advocacy
c. Speech of the Nation Address
d. State of the Nation Address
Answer: D. State of the Nation Address
Rationalization:
The State of the Nation Address (SONA) is a constitutional obligation and yearly
tradition, wherein the chief executive reports on the status of the country, unveils
the government’s agenda for the coming year, and proposes to Congress certain
legislative measures.
An enrolled bill may become a law after a lapse of how many days?
a. 60
b. 40
c. 90
d. 30
Answer: D. 30
Rationalization:
A bill may be vetoed by the President, but the House of Representatives may
overturn a presidential veto by garnering a 2/3rds vote. If the President does not
act on a proposed law submitted by Congress, it will lapse into law after 30 days
of receipt.
Which body of the United Nations has peace among as its major
responsibility?
a. Trusteeship Council
b. International Court of Justice
c. General Assembly
d. Security Council
Answer: D. Security Council
Rationalization:
Security Council adopts resolutions to:
maintain peace and security, facilitate the political process, protect civilians,
assist in the disarmament, demobilization and reintegration of former
combatants, support the organization of elections, protect and promote human
rights, and assist in restoring the rule of law
Which term refers to duties payable on goods, whether imported or
exported?
a. Assessment
b. Tariff
c. Subsidiary
d. Revenue
Answer: B. Tariff
Rationalization:
A tariff is a tax imposed by one country on the goods and services imported from
another country.
The principal legal forms of business organization are:
a. Corporation, charter, stock company
b. Partnership, charter, single proprietorship
c. Single proprietorship, partnership, corporations
d. Open shop, union shop, closed shop
Answer: C. Single proprietorship, partnership, corporations
Rationalization:
There are 4 main types of business organization: sole proprietorship, partnership,
corporation, and Limited Liability Company, or LLC. Below, we give an
explanation of each of these and how they are used in the scope of business law
What do we call the sum of money collected for our use of a road, bridge
and highway?
a. Penalty
b. Assessment
c. Tax
d. Toll
Answer: D. Toll
Rationalization:
Toll is a tax or charge for a privilege, esp. for permission to pass over a bridge,
along a highway, etc.
What was the law passed by the Philippine Commission in 1907 which
prohibited the public display of all flags, banners, symbols and other
paraphernalia used by the Filipino resistance movement against the United
States?
a. Sedition Law
b. Flag Law
c. Press Censorship Law
d. Law on Suppression Nationalism
Answer: B. Flag Law
Rationalization:
Act No. 1696, s. 1907 or The Flag Law , August 23, 1907
No 1696.—An Act to prohibit the display of flags, banners, emblems, or devices
used in the Philippine Islands for the purpose of rebellion or insurrection against
the authority of the United States and the display of Katipunan flags, banners,
emblems, or devices, and for other purposes.
