Example Items. Economics

Transcription

1 Example Items Economics Economics Example Items are a representative set of items for the P. Teachers may use this set of items along with the test blueprint as guides to prepare students for the P. On the last page, the correct answer, content SE and SE justification are listed for each item. The specific part of an SE that an Example Item measures is NOT necessarily the only part of the SE that is assessed on the P. None of these Example Items will appear on the P. Teachers may provide feedback regarding Example Items. (1) ownload the Example Feedback Form and it. The form is located on the homepage of the ssessment website (assessment.dallasisd.org). OR (2) To submit directly: Login to the ssessment website. Under News in the left-hand column, click on Sem 2 Example Items ownload. bove the subjects, click on Example Feedback Form. Second Semester ode #: 4220

2 EXMPLE ITEMS Economics, Sem 2 1 Many workers and government officials are calling for the minimum wage to be raised to $15 an hour in order to create greater economic equity. While public support is high, many consumers fear that the prices for items will increase so businesses will not lose profits due to the higher wages they must pay workers. ccording to the passage, what can occur when U.S. economic policies attempt to achieve the goal of income equity? Higher wages will create fewer goods for consumers. Higher wages have no immediate impact on profits. Higher wages can create higher prices for consumers. Higher wages will result in a lower price equilibrium in the short-term. 2 Source: McGraw Hill The cartoon supports the idea that trade barriers protect U.S. businesses from international competition but limit their market merican companies from international competition and create jobs domestic companies and expand international trade opportunities the standing of the United States as the dominant world trading partner allas IS - Example Items

3 EXMPLE ITEMS Economics, Sem 2 3 How Technology enefits the Economy usiness innovation Workforce transformation GP growth New services and industries? Which statement best completes the list? Limited consumer markets New job creation Expanded trade barriers Fewer small businesses 4 The laissez-faire economic approach is best demonstrated by which economic system? ommand Mixed Free enterprise Traditional 5 What incentive is a startup business most suited to offer investors? cash bonus due to the low risk of the investment Position on the oard of irectors Preferred stock to attract bond buyers high interest rate due to the high risk of the investment 6 When a store reduces the price of computers, the store reports that the demand for software increases. What factor best describes the reason for the increase in the demand for software? omputers and software are complements. omputers and software are competitors. omputers and software are substitutes. omputers and software are not related. allas IS - Example Items

4 EXMPLE ITEMS Economics, Sem 2 7 Federal udget for Fiscal Year 2014 Source: Office of Management and udged, 2013 ccording to the chart, what was the largest expenditure in the 2014 federal budget? National defense Medicare Transportation Social Security 8 One of the roles of government in the U.S. free enterprise system is setting quotas for production appointing EOs of corporations preventing monopolies ensuring full employment 9 ny point on the curve of a Production Possibilities urve Model indicates an economy at full employment with opportunity options with inflation risks at maximum efficiency allas IS - Example Items

5 . EXMPLE ITEMS Economics, Sem 2 10 enefits of Renting menities Little to no responsibility for maintenance? Which choice best completes the list? Saves for home purchase Easier to relocate uilds equity loser to employment 11 business invests in a new computer to handle customer phone inquiries. Which economic question is being answered? How to produce? How much to produce? For whom to produce? What to produce? 12 How To void redit ard ebt Pay credit card bills on time void unnecessary purchases Limit the number of credit cards? Which choice best completes the list? heck credit scores on a regular basis Use credit cards for food and gas purchases Make payments on the interest first pply for a prepaid debit card 13 What is a disadvantage of a sole proprietorship? Owner controls all aspects of the business. Owner is liable for all business debts. Stockholders receive portion of profits. Management requires one decision maker. allas IS - Example Items

6 EXMPLE ITEMS Economics, Sem 2 14 Which is not a characteristic of the United States free enterprise system? ompetition among businesses onsumer choice of goods and services Government control of all businesses Private ownership of property 15 Land, capital, labor, and entrepreneurs are referred to as factors of production consumer expenditures goods and services business income 16 t a price of $3, there is a surplus of 52 units shortage of 60 units surplus of 40 units shortage of 28 units allas IS - Example Items

7 EXMPLE ITEMS Economics, Sem 2 17 Open an account in a bank or a credit union void retail credit cards Get a job and keep it Pay service providers on time This list represents strategies to improve one s stock trades get a higher credit card limit improve one s personal credit score get a long-term car loan 18 On a Saturday afternoon, na is approached by her friend Miguel about going to the mall. ecause of the large number of shops in the mall, na is not sure what products she is going to buy. What benefit of free enterprise does this passage represent? Variety of goods, which lowers prices for consumers reation of wealth, which raises prices for consumers Investment opportunities, which lower prices for consumers Responsive prices, which raise prices for consumers 19 Source: McGraw Hill Which economic concept is defined in the cartoon? Stagflation eflation Unemployment Inflation allas IS - Example Items

8 EXMPLE ITEMS Economics Key, Sem 2 Item# Key SE Process Skills SE Justification 1 EO.6 22 nalyze the costs and benefits of U.S. economic policies related to the economic goals of economic growth [and] equity (equal opportunity versus equal outcome). 2 EO.4 22 Effects of trade barriers on economic activities. 3 EO nalyze how technology relates to growth. 4 EO EO EO EO.15 22F 8 EO EO.1 -- escribe the basic characteristics of economic systems. Examine the types of accounts available to consumers from financial institutions and the risks, monetary costs, and benefits of maintaining these accounts. Identify the non-price determinants that create changes in supply and demand, which result in a new equilibrium price. nalyze the categories of revenues and expenditures in the U.S. federal budget. escribe the role of government in the U.S. free enterprise system. Interpret a production-possibilities curve and explain the concepts of opportunity costs and scarcity. 10 EO Evaluate the benefits of renting a home. 11 EO.1 -- escribe how societies answer the basic economic questions. 12 EO Examine ways to avoid credit card debt. 13 EO nalyze the disadvantages of sole proprietorships. 14 EO EO EO.2 22F 17 EO.18G EO.6 -- Explain the basic characteristics of the U.S. free enterprise system, including private property, incentives, economic freedom, competition, and the limited role of government. Interpret the roles of resource owners and firms in a circular-flow model of the economy. Interpret a supply-and-demand graph using supplyand-demand schedules. evelop strategies to become a low-risk borrower by improving one's personal credit score. Explain the benefits of the U.S. free enterprise system, including variety of goods. 19 EO.10 22, 23 Interpret economic data, including rate of inflation.