Multiple Choice
In macroeconomic analysis, the representative consumer
A) denotes the consumer with the average amount of income.
B) plays the role of a stand-in for all consumers in the economy.
C) is the consumer who bargains with firms for all workers in the economy.
D) is always a misleading fiction.
E) is the consumer with an average standard of living.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: The time constraint for the consumer is<br>A)
Q42: An increase in real dividend income minus
Q43: Convexity of the indifference curve follows from<br>A)
Q44: A utility function<br>A) is a stand-in for
Q45: A production function describes the<br>A) technological possibilities
Q47: At the optimal consumption bundle, the marginal
Q48: An economy without monetary exchange is called<br>A)
Q49: When consumption and leisure are both normal
Q50: The representative consumer acts competitively<br>A) when he
Q51: The Solow residual is a measure of<br>A)