TRUE or FALSE 11. A high fertility rate reduces the per capita income, be it the Gross National Income per Capita or the Gross Domestic Product per capita.  12. The natural environment can bring about an increase or decrease in the population growth rate.  13. Rapid population growth does not necessarily reflect market failure.  14. Urbanization and localized economies lead to resource immobility  15. The most relevant advantage of locating a firm in an Industrial District is knowledge spillover.  16. The K -12 Program added years to basic education but Philippines student learning still lags behind many East Asian countries.  17. Investment in human capital is beneficial in the short run but investment in physical capital is beneficial in the long run.  18. Centralized urbanization leads to underdeveloped peripheral economies.  19. Improving hard infrastructures rather than soft infrastructures is absolutely a better choice in urbanization  20. Migration is an effect of wage distortions but not necessarily a cause

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.