Tackle the Test: Free-Response Questions

191

  1. Question

    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

    Rubric for FRQ 1 (8 points)

    image

    1 point: Vertical axis labeled “Aggregate price level” (or “Price level”)

    1 point: Horizontal axis labeled “Real GDP”

    1 point: Vertical curve labeled “LRAS” (or “LRAS1”)

    1 point: Potential output labeled YP (or YP1) on the horizontal axis at the intercept of the long-run aggregate supply curve

    1 point: Long-run aggregate supply curve shifted to the right

    1 point: An increase in the quantity of resources (land, labor, capital, or entrepreneurship)

    1 point: An increase in the quality of resources

    1 point: Technological progress

  2. Question

    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