According to Habakkuk (1962), the high price of western lands before the Homestead Act (1862) kept workmen in the eastern manufacturing cities and thus slowed down the rate of adoption of labor-saving technology

Bill's utility function takes the form U(I) = exp(I) where I is Bill's income. Based on this utility function, we can see that Bill is:

A) risk averse B) risk neutral C) risk loving D) He can exhibit two or more of these risk behaviors under this utility function.

Holding everything else constant, an increase in the price of raisins will result in

A) a decrease in the quantity of raisins demanded. B) an increase in the demand for raisins. C) a decrease in the supply of raisins. D) an increase in the quantity of raisins demanded.