The Phillips Curve depicts that, in general:
A. high amounts of unemployment in an economy will coincide with low inflation.
B. high amounts of output in an economy will coincide with low inflation.
C. high amounts of unemployment in an economy will coincide with high inflation.
D. low amounts of unemployment in an economy will coincide with low inflation.
Answer: A
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Consider a monopolist who charges a single price to all of its customers. If this monopolist starts price discriminating, its output will ________ and its profit will ________.
A. rise; fall B. rise; rise C. fall; rise D. fall; fall
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Explain the reasoning behind the shutdown rules. When is it appropriate to operate with a loss?
What will be an ideal response?
Because the Fed determines the money supply, the:
A. money supply curve is upward sloping. B. money supply curve is downward sloping. C. money supply curve is vertical. D. money supply curve is horizontal.