January Economic Issue

Article Name: Hiked flagdown by Jan. 24 only for complying cabs
Retrieved: January 22, 2010
URL: http://www.abs-cbnnews.com/video/business/01/20/11/hiked-flagdown-jan-24-only-complying-cabs

May resibo, sticker at naka-calibrate na ang metro — ito ang mga kailangan bago maipatupad ang dagdag-singil sa flagdown rate ng taxi.

Sa Enero 24 sisimulan ang recalibration.

Uunahin ang mga taxi na may plakang nagtatapos ng 1 at 6.

Ibig sabihin, ang ibang taxi, hindi pa puwedeng maningil ng bagong flagdown na P40 at P3.50 sa kada susunod na metro.

"Kunyari eh gusto nilang mas murang pasahe... Huwag silang sasakay sa taxi na ending 1 at 6," sabi ni Bong Suntay, presidente ng Philippine National Taxi Operators Association.

Payo ni Land Transportation Franchising and Regulatory Board, puwedeng tumawag ang mga pasahero sa kanilang hotlines para ireklamo ang mga abusadong drayber.

"Tignan niyo lang kung may sticker na iyong taxi na... it's colored yellow. It's A4 size, nasa left windshield ng taxi," ani Atty. Nelson Laluces, chairman ng LTRB.

Nakipagpulong naman ang ilang transport group kay Laluces para igiit ang pisong provisional increase sa pasahe sa jeep.

Malabong pagbigyan ng LTFRB ang hirit na agahan pa ang paglalabas ng desisyon kaya nakiusap sila sa mga transport group.

"Huwag muna kayong gumawa ng unnecessary action. Give us time," sambit ni Laluces.

Nangako ang Pasang Masda na hindi magra-rally basta ibigay ang pisong umento sa katapusan ng Enero.

"Wala munang pagkilos na gagawin ang aming samahan hangga't hindi natatapos ang buwan ng Enero," ani Obet Martin, pangulo ng Pasang Masda.

Tiniyak naman ni Laluces na merong pagtataas sa pasahe pero ayaw niyang sabihin kung aabot ito ng piso.

Reaction:
As my reaction in the stated article above, I want to have my comment in both parties --- taxi passengers, and taxi drivers and operators.

As a passenger, the P40 flagdown rate with P3.50 for every succeeding kilometer or 250 meters is too much. The rich people won’t mind about this price hike not because they can afford it but because they have their own cars where they don’t need to ride a taxi unlike the ordinary people. As one of the ordinary people, I think the old price is expensive enough. I live in Bangkal which is a bit far from downtown, and if ever I ride a taxi I usually pay more or less P100.

In the part of the drivers and operators, I think it’s unfair to just let the taxi cabs with plate numbers ending with 1 and 6 to have the price hike. Just like all employed people, taxi drivers also look forward to that price hike to increase their income. So it’s unfair to have it only to few of them. What’s the ratio with the taxi cabs’ plate number ending with 1 and 6? 2 to 10? That’s too small even if we calculate it using any kinds of math formula.

In conclusion, both parties can have its own ups and downs. But for sure, because taxis already have its share in the price hike, others will follow.


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Other same articles:
-LTFRB says, it'll be staggered taxi fare hike
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-Taxi Fare Hike in The Philippines
-Taxi fare hike hit

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December Economic Issue

Article Name: Roadworthiness is a concern
Retrieved: December 23, 2010
URL: http://www.sunstar.com.ph/davao/opinion/editorial-roadworthiness-concern

FOR weeks on end now, we see passenger multicabs with computer printout messages protesting what is called the "multicab phase-out."

Occasionally, we see rallies outside the Land Transportation Office and the Land Transportation Franchising and Regulatory Board protesting the same.

The message sent is that by next year, all multicab vehicles serving as passenger jeepneys will be phased out, and the public says, that should not be so.

A closer inquiry on what the problem is, however, shows a skewed perspective on what public transport should be.

In the middle of the protest is Department of Transportation and Communication (DOTC) Department Order 96-963 on "Modernization of Public Transport Services."
"No unit shall be the subject of a new application for franchise, for extension of validity of Certificate of Public Convenience (CPC), for substitution of unit, and for increase of number of unit(s), if said unit is more than the minimum age requirement as specified below by the time of expiration of the covering CPC," the department order says.

For buses and minibuses including shuttle and school buses, it's 15 years from date of initial registration with the LTO.

For taxis, vehicles for rent, garage services and limousine services, the model of the unit should not be more than ten years old.

For what DOTC calls "filcab" or what is commonly known in Davao as multicab, it says, "The unit should not be more than ten years old reckoned from the date of initial registration with the LTO.

Meaning, the riding public is being taken for a ride by those protesting. It is not just multicab phase-out, it's phase-out of multicabs that are already more than a decade old.

The order was made in 1996, and thus the multicabs given franchise on that year should be 14 years old by this time, and still the order cannot be implemented. How old should public utility vehicles then be before operators and drivers allow these to retire? To think that these are already reconditioned and rebuilt units. No multicab is brand-new, and yet they are considered new when first registered. Now drivers and operators are saying they want to squeeze out more than a decade worth of service from these units?

It's back to the arguments that saw the deaths of passengers of uso-uso drivers. Drivers who were not above saying they have to drive at top speed so as to earn more because rice prices have gone up, food prices have gone up, and oil prices have gone up, never mind if they endanger the lives of their passengers in the process.
This is the same argument being used by payong-payong drivers who disregard traffic laws and drive along main thoroughfares when their existence have long been tolerated for as long as they only serve side-streets and subdivisions. They are poor, they have to earn, they would say. Never mind if their vehicles are not roadworthy and never mind if they are packing as many as 15 pupils in one payong-payong. They are poor, they have to earn. Never mind if even cars are not designed to carry 15 people.

This is all about roadworthiness, and not about depriving the poor. Public transport has to be serviced by roadworthy vehicles and this is what the LTFRB should make sure of.

Published in the Sun Star Davao newspaper on November 04, 2010



Reaction:
I think it is not about the vehicle age that the LTO, DOTC or CPC must phased-out the multicab vechiles. There are other certain things that they must look closer like the condition of the vehicle. Let’s say there are two vehicles that age 5 years and 15 years. The 5-year-old vehicle is already in bad condition – the engine always gets stuck or something – while the 15-year-old vehicle is still in good condition despite of its “old age” because it is well maintain. If we based it in the DOTC Department Order 96-963, then the vehicle that is 15 years will not be renewed. But if we based it in the vehicle’s condition, then the 5-year-old vehicle will be the one who won’t and must not be renewed because mainly because it’s not capable anymore of transporting the passengers.

Another thing is about the “uso-uso” vehicles. As a regular jeepney passenger especially multicabs (because it gets full easy because of its limited seating capacity), I never, even once, experienced riding an uso-uso multicab. Well, I experienced fast multicab drivers but being a fast driver is different from reckless driver. And as far as I know, the common uso-uso vehicles are the big ones not the small ones like multicab.

Overall it’s not right to just phased-out the multicabs. They must not look at the vehicle as a multicab, bus, or whatsoever. They must look at the condition of vehicle and maybe its past records like if this vehicle often gets an accident or the driver of this vehicle is not a good driver. And with this no driver will lost his job because he is driving a multicab.

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Review Questions (Chapter 3) for Econ111

1.

The production possibilities frontiers used to explain trade in the text are straight lines because: a. the author assumes the farmers can switch at a constant rate from producing meat to producing potatoes. b. that's how it turns out to be when the same person produces the two goods. c. one farmer is better than the other in producing both goods. d. the gains of trade will benefit both farmers.

2.

The principle of Absolute Advantage refers to the situation in which one producer: a. can produce a good in greater quantities than other producers. b. can produce a good using fewer resources than other producers. c. is able to produce exactly the same quantity of a good as other producers. d. has access to more resources than other producers.

3.

The principle of Comparative Advantage refers to the situation in which one producer: a. has a lower opportunity cost than other producers in the production of a good. b. can produce a good in greater quantities than other producers. c. has access to more resources than other producers. d. can produce a good using fewer resources than other producers.

4.

Which of the following is true regarding the principle of Absolute Advantage? a. Nations should specialize in producing those goods for which they have a lower opportunity cost. b. Nations should export goods for which they do not have an Absolute Advantage. c. Nations should specialize in producing those goods for which they have an Absolute Advantage. d. Nations should export goods for which they have a higher opportunity cost.

5.

Which of the following is true regarding the principle of Comparative Advantage? a. Nations should specialize in producing those goods for which they use the least amounts of resources. b. Nations should specialize in producing those goods for which they have the lowest opportunity cost. c. A nation has nothing to gain from trade if it uses fewer resources than other nations to make any good. d. A nation has nothing to gain from trade if it uses more resources than other nations to make any good.

6.

The boy next door has offered to mow Tiger Woods' lawn. It will take this boy twice as long as Tiger Woods to mow the lawn. Would Tiger Woods let the boy mow his lawn, instead of doing it himself? a. Yes, as long as the boy's opportunity cost is less than half of Tiger Woods' opportunity cost. b. Yes, because the boy next door needs the money and Tiger Woods can help him out that way. c. No, because it will be more efficient if Tiger Woods mows his own lawn, since he can do it faster. d. No, because Tiger Woods has better things to do with his money than pay the boy to mow the lawn.

7.

Suppose that engaging in free trade means we have to stop making cars, which will cause bankruptcies and will make people lose their jobs. Is it still worth having free trade? a. Yes, because in spite of the lost jobs, we still want to get along with other nations. b. Yes, because the gains outweigh the losses: new businesses and new jobs will flourish in other industries. c. No, because we need to protect our jobs. d. No, because our wages would have to fall drastically to make us remain competitive with low wage countries.

8.

Suppose that Jill can type 10 pages per hour in the computer, while Jim can only type 8. Further suppose that Jill can review 5 articles per hour while Jim can only review 2. If they are working on a final project together, who should specialize in what task in order to be as productive as possible? a. Jill should specialize in typing and Jim in reviewing articles. b. Jill should specialize in reviewing articles and Jim in typing. c. Jill should perform both tasks, since she is better at both than Jim. d. Jim should perform both tasks, since he is better at both than Jill.

9.

Suppose that Jill can type 10 pages per hour in the computer, while Jim can only type 8. Further suppose that Jill can review 5 articles per hour while Jim can only review 2. Based on this, we can say that: a. Jim has a comparative advantage over Jill in reviewing articles. b. Jill has an absolute advantage over Jim in reviewing articles. c. Jim has an absolute advantage over Jill in typing. d. Jill has a comparative advantage over Jim in typing.

10.

The principle of Comparative Advantage argues all of the following, EXCEPT: a. specialization allows producers to produce goods for which they have a lower opportunity cost. b. free trade tends to cause bankruptcies and high unemployment in the long run. c. free trade allows producers to specialize. d. as producers specialize, overall production increases, making everybody better off.

Review Questions (Chapter 2) for Econ111

1.

Which of the following is FALSE, regarding economics as a science? a. Economic knowledge is obtained through the scientific method, just as in any other science. b. It is difficult to conduct experiments in economic matters. c. Economists pay close attention to natural experiments resulting from historical events. d. Economic theories represent irrefutable facts.

2.	Economists use assumptions in order to: a. recreate real situations accurately, with all their complexity. b. avoid dealing with issues they would rather not talk about. c. simplify economic theories, so as to make it possible to answer economic questions. d. make their theories more realistic.

3.	Economic models are: a. simplified versions of economic theories. b. created by making assumptions. c. usually composed of diagrams and equations. d. all of the other options are true.

4.

All of the following are characteristics of the Circular Flow Model of the economy, EXCEPT: a. the model has two markets: one for goods and services and one for factors of production. b. the model includes two sectors: the Firms sector and the Households sector. c. the model describes two circular flows: one for inputs and one for resources. d. the two flows described by the model move in opposite directions.

5.

The circular flow model of the economy demonstrates that: a. the economy actually has only two sectors: firms and households. b. dollars in the economy are used over and over in an endless cycle. c. firms produce and provide factors of production. d. government is the source of revenue for households to purchase goods and services from firms.

6.

Which of the following is true regarding the Production Possibilities Frontier Model of the economy? a. Any point along the PPF represents an efficient level of production. b. Any point in the area below the PPF represents a combination of production that is not feasible. c. The opportunity cost of producing one more unit of one of the goods represented in the PPF remains the same at any point along the PPF. d. Increases in the resources available for production will cause the PPF to shift towards the origin.

7.	Economic growth in the economy can be portrayed in the Production Possibilities Frontier model as a: a. movement up and to the left along the PPF. b. shift of the PPF away from the origin. c. movement down and to the right along the PPF. d. shift of the PPF towards the origin.

8.	Microeconomics is the study of: a. how governments can get the economy out of a recession. b. economy-wide phenomena, including inflation, unemployment, and economic growth. c. how households and firms make decisions and how they interact in markets. d. how governments can reduce inflation.

9.

Which of the following is an example of a normative statement? a. Higher interest rates will cause people to borrow and invest less. b. The government should increase spending during recessions, so that the economy recovers quickly. c. When the price of a good increases, consumers respond by reducing the quantity that they want to purchase of the good. d. Over the past 50 years, the number of women that participate in the labor force has increased dramatically.

10.

Economists tend to disagree with each because: a. different economists espouse different theories, so they believe different things are going on in the economy. b. different economists make different assumptions, leading them to different conclusions in economic matters. c. different economists have different values and priorities in economic matters. d. all the other options are true.

Review Questions (Chapter 1) for Econ111

1. Government policies designed to promote efficiency:

a. usually do so at the expense of equity. b. tend to cause the economy to grow more slowly. c. always fail. d. require very high taxes.

2.	All of the following can be considered a student's costs of going to college, EXCEPT: a. textbooks. b. tuition and fees. c. room and board (that costs her about the same as she was paying before entering college). d. the student's time, which can no longer be devoted to earning a salary.

3.

An airline's plane from Los Angeles to New York is about to take off, but it still has a few seats empty. If the average cost per seat is $500, what price should the airline charge passengers in standby to fill in those remaining seats? (Consider that quantitative decisions are made at the margin) a. At least $500. b. Exactly $500. c. Any price above zero that will entice standby passengers to take the flight. d. Slightly less than $500. 4. The Federal government enacted regulation in the 1960s requiring people to wear seatbelts in their cars. All of the following resulted from this regulation, EXCEPT: a. overall deaths due to car accidents changed very little in the United States. b. fewer deaths occurred per accident. c. fewer pedestrians were killed in car accidents. d. the frequency of accidents increased.

5.	When two persons trade goods: a. one person always gains at the expense of the other. b. both persons usually gain from the exchange. c. one person usually gains at the expense of the other. d. the overall well being of the two persons remains unchanged.

6.	In a market economy, the decisions of what and how much to produce are made by: a. voters in elections. b. all producers and consumers. c. the government only. d. non governmental agencies.

7.

Even though markets do a great job in organizing economic activity, governments are needed to do all of the following EXCEPT: a. establish and enforce property rights. b. intervene when markets fail due to externalities. c. intervene when markets fail due to market power. d. decide what and how much should be produced.

8.

Living standards in the United States have risen tremendously over the years, mainly due to: a. relentless increases in the productivity of labor over the years. b. the forceful efforts of labor unions. c. successive increases in the minimum wage. d. trade protection from competition from countries with low wages, such as China.

9.	Rapid and persistent inflation occurs mainly due to: a. high wage increases demanded by labor unions. b. greedy firms that abuse consumers with higher-than-necessary prices. c. rapid increases in the quantity of money in the economy. d. trade with other countries.

10.	A government that implements a policy designed to reduce inflation can expect unemployment to: a. increase in the short-run. b. decrease in the short-run. c. increase in the long-run. d. decrease in the long-run.

NOTE: answers are in bold and underline

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