Prescott's calibrated RBC model was able to match the data in terms of the ________ between many key macroeconomic variables and GNP; that is, in terms of how closely they moved with GNP over the business cycle

Roughly what percentage of money income was earned by the lowest 20% of income earners in the U.S. in 2010?

A) 0.8% B) 3.8% C) 6.8% D) 9.8%

According the Lucas' misperception model, when prices unexpectedly rise, suppliers infer that their relative prices have _____, which induces them to _____ output

a. decreased; increase. b. increased; decrese. c. decreased; decrease. d. increased; increase.