For firms that sell one product in a perfectly competitive market, the market price:
A. can be influenced by one firm's output decision.
B. is equal to the average total cost of a firm.
C. is taken as a constant by individual firms.
D. is higher than the marginal revenue of a firm
C. is taken as a constant by individual firms.
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Hong Kong and Japan have achieved relatively high incomes per capita despite lacking an abundance of natural resources
a. True b. False Indicate whether the statement is true or false
Suppose the figure below shows Luke's demand curve for check-ups along with the supply curve for check-ups. 
What is the marginal cost of one extra check-up?
A. $100 B. $150 C. $200 D. $50
All ________ economies have been political dictatorships
A) centrally planned B) mixed C) market D) mixed and market
Which of the following is likely to be true when the economy is in a boom?
A) The inflation rate is negative. B) The size of government expenditure multiplier is small. C) The size of government expenditure multiplier is large. D) The unemployment rate is high.