Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For items 4-6, refer to the situation below. Every quarter, Mila sends PhP 160,000 of her income to her family in the Philippines, from the
For items 4-6, refer to the situation below. Every quarter, Mila sends PhP 160,000 of her income to her family in the Philippines, from the US. Half of this amount is spent on her family's needs including food, water, clothing, and electricity. Meanwhile, the other half is distributed among these three: her mother's life insurance, Mila's PAG-IBIG and PhilHealth contributions, and any remaining funds are deposited in her mother's savings account. 4. Which of these is/are included in the GDP computation? a. The PhP 160,000 Mila sends every quarter b. The amount spent on Mila's family's needs c. Mila's PAG-IBIG and PhilHealth contributions d. All of the above5. PhilHealth released a new advisory on adjusted premium rates and thus Mila's annual contribution increased by 0.5% How will this affect the GNP? a. The GNP will also increase by 0.5% b. The GNP will decrease by 0.5% c. The GNP will increase by 2% d. It will not affect the GNP. 6. What will happen if Mila reduces her remittances by 2%? a. The GDP and GNP will increase. b. The GDP and GNP will decrease. c. Only the GDP will increase. d. Only the GNP will decrease.For items 7-9, predict what will happen to the real GDP given the conditions. 7. Mothers increase the time they spend doing housework by 5% for every birth of a child. 8. More families qualify for and receive conditional cash transfer grants. 9. The government spent 12% more on the construction and repair of hospitals due to the pandemic
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started