The intensity or loudness of sound is measured by:
a. Amps
b. Bytes
c. Decibels
d. Watts
C
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If real GDP per person in a country equals $40,000 and 60 percent of the population is employed, then average labor productivity equals:
A. $66,667. B. $40,000. C. $60,000. D. $24,000.
When property rights are poorly defined,
a. positive or negative externalities may result b. the market cannot generate an equilibrium price c. the market price becomes highly unstable d. the market must be relied upon to generate efficient allocation of resources e. no externalities can exist
A nonmarketable bond that is the most commonly held form of public debt is a
a. U.S. Treasury bond b. U.S. Treasury bill c. U.S. savings bond d. U.S. Treasury note e. U.S. Treasury debenture
"If all economists were laid end to end, they would not reach a conclusion.". Who made this whimsical observation?
a. Harry Truman b. George Bernard Shaw c. John Maynard Keynes d. Ronald Reagan