DP Economics Questionbank

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Define the term infrastructure indicated in bold in the text (paragraph 3).

Define the term infrastructure indicated in bold in the text (paragraph 1).

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.