Tackle the Test: Free-Response Questions

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  1. Question

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    Rubric for FRQ 1 (5 points)

    image

    1 point: Correctly labeled supply and demand diagram (vertical axis labeled “Price” or “P,” horizontal axis labeled “Quantity” or “Q,” upward-sloping supply curve with label, downward-sloping demand curve with label)

    1 point: Equilibrium at the intersection of supply and demand with the equilibrium price labeled on the vertical axis and the equilibrium quantity labeled on the horizontal axis

    1 point: Vertical line to the right of equilibrium quantity labeled Qineffective

    1 point: Vertical line to the left of equilibrium quantity labeled Qeffective

    1 point: The triangle to the right of the effective quota line and to the left of supply and demand shaded in and labeled as the deadweight loss

  2. Question

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