Expanding per capita incomes in the United States have resulted in a(n):
A. More-than-proportionate increase in the demand for agricultural products
B. Proportionate increase in the demand for agricultural products
C. Less-than-proportionate increase in the demand for agricultural products
D. Absolute decline in the amount of agricultural products consumed
C. Less-than-proportionate increase in the demand for agricultural products
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Common property
a. is owned by specific people. b. is inexhaustible. c. refers strictly to land resource. d. refers to goods "owned" by society at large and freely usable by anyone.
In order to be successful as an innovator, a firm may require:
a. constant investment in mergers and acquisitions. b. frequent expansion of its scale of operation. c. to invest the majority of its annual profit in market research. d. research facilities and a culture that respects scientists and engineers.
For a given seller, the figure below shows the relationship between the number of units produced and the opportunity cost of producing an additional unit of output. What is this seller's reservation price for the 250th unit? 
A. $2 B. $8 C. $4 D. $14
"Supply creates its own demand" is known as
A. Say's law. B. Murphy's law C. Smith's law. D. Keynes' Rule.