Prescott's calibrated RBC model showed that the actual and simulated ________ of five key macroeconomic variables were very close

If a good is inferior in an economic sense:

a. it is demand price elastic. b. it is demand price inelastic. c. the income elasticity of demand is negative. d. it is a low-quality good. e. it is not the highest quality good in its class.

The unemployment rate among African American workers in the United States is higher than that among white workers

a. True b. False Indicate whether the statement is true or false