Economic variables we are most interested in are

a. real variables, but we usually observe nominal variables.
b. nominal variables, but we usually observe real variables.
c. real variables, which we usually observe.
d. nominal variables, which we usually observe.

a

Economics

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Short-run average cost exceeds long-run average cost only when there are economies of scale

Indicate whether the statement is true or false

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A binding minimum wage is a(n) ______ for labor.

Fill in the blank(s) with the appropriate word(s).

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