If quantity demanded for rice falls by 2% when price increases 8%, we know that the absolute value of the own-price elasticity of rice is:

An increase in the wage rate ______

A. shifts the average total cost curve and the marginal cost curve upward B. shifts the average fixed cost and average variable cost curve upward C. increases average variable cost but does not change marginal cost D. does not change average variable cost but increases average total cost

Demand deposits are included in

a. M1 but not M2. b. M2 but not M1. c. M1 and M2. d. neither M1 nor M2.