1 - APC = _________________.
Fill in the blank(s) with the appropriate word(s).
APS
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In and Edgeworth Box economy, no one strictly prefers the endowment allocation to the competitive equilibrium allocation.
Answer the following statement true (T) or false (F)
At a short-run macroeconomic equilibrium, real GDP is always equal to potential GDP
Indicate whether the statement is true or false
Union leaders who focus on increasing the size of their union will generally accept a wage just above the competitive level.
Answer the following statement true (T) or false (F)
What were greenbacks?
a. paper currency issued by the Confederacy during the Civil War b. paper currency issued by the Union during the Civil War c. fiat money used by the Confederacy during the Civil War d. commodity money used by the Union during the Civil War