If the consumer price index in 2007 is 25 times that of 1860, and a slave cost $2,000 in 1860, how much is that in terms of 2007 dollars?
a. $12,500
b. $25,000
c. $50,000
d. $75,000
e. $750,000
c. $50,000
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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; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
What is the Nash equilibrium of this game?
a. Both the vendors price high b. Both the vendors price low c. Vendor A prices high, vendor B prices low d. Vendor B prices high, vendor A prices low
The question of how much labor a firm will hire comes down to:
A. whether added workers are going to generate more revenue than what it costs to hire them. B. if the added workers are going to add revenues to the firm. C. whether the value of the marginal product is greater than, less than, or equal to the average total cost. D. the healthcare costs they incur by hiring them.