As price falls along a given demand curve for pretzels,
a. quantity demanded, total utility, marginal utility, and consumer surplus increase; consumer expenditure decreases
b. quantity demanded, total utility, and consumer surplus increase; marginal utility and consumer surplus decrease
c. quantity demanded, total utility, consumer surplus, and consumer expenditure increase; marginal utility decreases
d. quantity demanded, total utility, and consumer surplus increase; marginal utility decreases; consumer expenditure might increase, decrease, or remain constant
e. quantity demanded, total utility, marginal utility, consumer surplus, and consumer expenditure all increase
D
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With the assumption that some voluntary exchanges that would make both parties better off are somehow being blocked, we have the basis for a ________ macroeconomic model, such as those constructed by ________ economists
A) non-market-clearing, New Keynesian B) non-market-clearing, New Classical C) market-clearing, New Keynesian D) market-clearing, New Classical
Evidence from the United States and Japan on "multifactor productivity" shows it to be highly ________, which is ________ with the RBC theory of technological shocks and their consequences for the business cycle
A) procyclical, consistent B) procyclical, inconsistent C) countercyclical, consistent D) countercyclical, inconsistent