Draft - Economics CFA#2 Term 1 Week 4.pdf

8/20/23, 2:25 PM Draft - Economics CFA#2 Term 1 Week 4 Adding interactive questions to the test will disable printing and other related features. 1. Interactive Response MATCH TABLE GRID E.8(A) Match the different competition types to the example. Cell Phone Companies Farmers F Companies...

8/20/23, 2:25 PM Draft - Economics CFA#2 Term 1 Week 4 Adding interactive questions to the test will disable printing and other related features. 1. Interactive Response MATCH TABLE GRID E.8(A) Match the different competition types to the example. Cell Phone Companies Farmers F Companies T Shirt Competition R D Monopolistic A Pure Competition Oligopoly 2. Constructed Response E.2 A F T At the beginning of COVID the price of toilet paper sky rocketed. Using supply and demand tell me why the price rose. D R -0 The student does not use supply or demand in their answer or uses them incorrectly -1 The student uses either supply or demand in their answer or only one correctly -2 The student uses both supply and demand in their answer and uses it correctly Minimum Rubric Score: 0 | Maximum Rubric Score: 2 https://texanscan.schoolobjects.com/awarev2/assessments/author/edit/15779/questions 1/4 8/20/23, 2:25 PM 3. Draft - Economics CFA#2 Term 1 Week 4 Selected Response E.2(B) Adding interactive questions to the test will disable printing and other related features. T Which non-price determinate is sometimes utilized by the government to decrease demand for a product that is viewed as harmful to society? A F A. Subsidies C. Excise taxes D R B. Rationing D. Consumer boycotts https://texanscan.schoolobjects.com/awarev2/assessments/author/edit/15779/questions 2/4 8/20/23, 2:25 PM 4. Draft - Economics CFA#2 Term 1 Week 4 Selected Response E.4(B) Adding interactive questions to the test will disable printing and other related features. A F The country’s guiding principle is that a successful social welfare society must be fiscally conservative and administratively efficient. This is the central Swedish lesson for the crisis countries of the euro zone and elsewhere. T Sweden remains a social welfare society, and government spending still accounts for half of its economy; it finances all education and health care, as is common throughout Europe. Sweden did not dismantle the social system but, in addition to drastically reducing its costs, adopted macroeconomic and structural reforms to make it sustainable and greatly enhanced its efficiency by privatizing the delivery of many educational and medical services. D R —“Obama should take lessons from Sweden to G-20”, Washington Post, August 29, 2013 http://www.washingtonpost.com (accessed July 24, 2014) Based on the information in the excerpt, what economic policy distinguishes Sweden’s free market economy from that of the United States? A. Sweden limits government spending B. Privatization of the social welfare system C. High levels of administrative inefficiency D. Government funding of education and health care https://texanscan.schoolobjects.com/awarev2/assessments/author/edit/15779/questions 3/4 8/20/23, 2:25 PM 5. Draft - Economics CFA#2 Term 1 Week 4 Selected Response E.10(C) Adding interactive questions to the test will disable printing and other related features. How does international trade impact economic growth within a trading nation? International trade allows industries within a trading nation to increase market power without losing customers. B. International trade allows a trading nation to limit opportunity costs, making the market more efficient. C. International trade shifts the demand curve of a trading nation outward, increasing the purchasing power of industries. D. International trade shifts the production possibility curve of a trading nation outward by using resources more efficiently. D R A F T A. https://texanscan.schoolobjects.com/awarev2/assessments/author/edit/15779/questions 4/4