answer the ff.

I.Write T if the statement is true and F if false

1.Fiscal policy is said to be tight or contractionary when revenue is higher than spending

2. and loose or expansionary when spending is higher than revenue

3. Agriculture is the Philippine's main source

of economy

4. With schools closed, COVID 19 deepens a

Philippine education crisis.

5. Keynesian is a state-intervention economic theory

6. Philippines is a developed country

7. Ambisyon Natin 2040 is a Philippine Development Plan of Duterte Administration

8. Karl Marx economics focuses on the role of capitalist in the development of an economy

and is critical of the classical approach to wages and

Productivity developed by Adam Smith

9. Philippines is a minor source country of workers and talent for global labor.

10. Philippine is ranked first after India and China as major recipients of remittances.