Tackle the Test: Free-Response Questions

1. Question

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   Rubric for FRQ 1 (6 points)

   

   1 point: Graph with the vertical axis labeled “Price” or “P” and the horizontal axis labeled “Quantity” or “Q”

   1 point: Downward-sloping demand curve labeled “Demand” or “D”

   1 point: Upward-sloping supply curve labeled “Supply” or “S”

   1 point: Equilibrium price “P_E” labeled on the vertical axis and quantity “Q_E” labeled on the horizontal axis at the intersection of the supply and demand curves

   1 point: Price line at a price “P_C” below the equilibrium price

   1 point: Correct indication of the shortage, which is the horizontal distance between the quantity demanded and the quantity supplied at the height of P_C

2. Question

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