We Assume That the Representative Consumer's Preferences Exhibit the Properties

Multiple Choice

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

A) they evolve over time and that more is always preferred to less.
B) more is preferred to less and that the consumer prefers diversity.
C) less consumption is preferred to more leisure and that consumption and leisure are both normal goods.
D) more is sometimes preferred to less and that consumption and leisure are both normal goods.
E) the consumer likes diversity and that more is sometimes preferred to less.