If marginal cost is less than average variable cost and output increases, average total cost ________ and average variable cost ________

If firms receive an economic forecast predicting future decreases in the growth of real GDP, they are likely to respond by

A) increasing their level of investment spending to increase future production capacity. B) increasing their level of investment spending to increase current production capacity. C) decreasing their level of investment spending to decrease current production capacity. D) decreasing their level of investment spending to decrease future production capacity.

The aggregate M1 consists of

A) currency plus all deposits in financial institutions. B) currency plus all deposits in all institutions. C) currency plus checkable deposits in financial institutions. D) currency plus all checkable deposits.