Supply and demand both tend to be more elastic in the long run and more inelastic in the short run

As Sean's consumption of rice goes up, his

A) average utility from consuming rice increases. B) total utility from consuming rice increases. C) marginal utility from consuming rice increases. D) elasticity of utility from consuming rice increases.

Computer forecasting models have

a. been able to forecast changes in the growth rate of real GDP with considerable accuracy. b. had only limited success predicting turns in key economic variables such as real GDP. c. been able to accurately forecast the future direction of inflation but not real GDP. d. been able to accurately forecast the future direction of real GDP but not inflation.