The ________ is the average hourly wage rate measured in current dollars, while the ________ is the average hourly rate measured in the dollars of a given reference base year

By continuing to operate when price is greater than average variable cost but less than average total cost, a firm limits its losses to:

A) $0. B) its total fixed costs. C) the difference between its total fixed cost and the amount by which total revenue exceeds total variable costs. D) its total variable costs.

Government programs that automatically shift the government budget toward a deficit during recessions and a surplus during recoveries are called:

a. discretionary fiscal policy. b. automatic stabilizers. c. progressive taxation. d. price deflators.