A firm's utility bill is a variable cost. If the cost of utilities increases, then in the figure above ________ upward
A) only curve A shifts
B) only curve B shifts
C) only curve C shifts
D) both curves A and C shift
E) both curves B and C shift
E
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Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
a. The development of strong labor unions. b. A sharp increase in the legal minimum wage. c. An increase in expenditures on education and capital investment. d. Rapid growth rate of the money supply.
New tools of monetary policy created in 2008 included
A. Fed purchase of corporate paper and a new discount window for investment banks. B. open market purchases and sales of short-term U.S. government securities. C. restoration of individual income tax rates to their pre-2001 levels. D. elimination of the requirement that banks hold reserves against deposits.