Problem 1: How is aggregate demand affected with the following Philippine cases?
Problem 2: Explain your answers briefly. Please cite your references, if you have to quote:
- Recent increase in gas price, now at approximately PhP(Philippine Peso) 70.00 per liter
- Recent increase in price of sugar to PhP(Philippine Peso) 50.00
- Recent continuous peso devaluation, now at PhP(Philippine Peso) 57.00 to a dollar
- Philippine fish importation from China'
- Recent P. Marcos cost of trip abroad