Suppose that the representative consumer's preference change, in that his or her marginal rate of substitution of leisure for consumption increases for any quantities of consumption and leisure.

A) Explain what this change in preference means in more intuitive language

B) What effects does this have on the equilibrium real wage, hours worked, output, and consumption?

C) Do you think that preference shifts like this might explain why economies experience recessions, explain why or why not? with references to the key business cycle facts