We assume that the representative consumer\'s preferences exhibit the properties

Question

We assume that the representative consumer's preferences exhibit the properties that they evolve over time and that more is always preferred to less. more is preferred to less and that the consumer prefers diversity. more is sometimes preferred to less and that consumption and leisure are both normal goods. the consumer likes diversity and that more is sometimes preferred to less. Which of the following questions is of most interest for MACROECONOMISTS? Why does the steel industry want tariffs? Why is there inflation? What is the appropriate stance of antitrust policy? Why do foreigners immigrate to the United States? A barter economy is an economy with no business firms. is an economy without monetary exchange. is not a competitive economy. cannot be a market economy.

Explanation / Answer

19.b) more is preferred to less and that the consumer prefers diversity.

20. b) why is there inflation.

21.b) is an economy without monetary exchange.

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