If the expected rate of inflation rises, then the short-run Phillips Curve would:
A. Shift to the right
B. Shift to the left
C. Become vertical
D. Become flat
A. Shift to the right
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Player 1 and Player 2 are playing a game in which Player 1 has the first move at A in the decision tree shown below. Once Player 1 has chosen either Up or Down, Player 2, who can see what Player 1 has chosen, must choose Up or Down at B or C. Both players know the payoffs at the end of each branch. 
If Player 2 could make a credible commitment to choose either Up or Down when his or her turn came, then what would Player 2 do?
A. Player 2 would commit to choosing Down. B. Player 2 would commit to choosing Up. C. Player 2 would not commit to choosing either strategy. D. Player 2 would commit to mimicking Player 1's strategy.
When a competitive price-searcher market is in long-run equilibrium, the firms will
a. earn economic profit. b. operate at an output level that minimizes long-run average total cost. c. charge a price that is equal to average total cost. d. operate at an output level where price is equal to marginal cost.
A move from E to F represents
A. a change in quantity supplied.
B. no change in supply.
C. an increase in supply.
D. a decrease in supply.
Which statement is true?
A. More than any other region in the nation, the South prospered the most in the years following the Civil War. B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s, all bypassed the South. C. Before the Civil War most of the nation's large farms were located in the North. D. None of the choices are true.