People are said to have rational expectations if they Select one: O a. merely guess at the inflation rate O b. assume that this year's inflation rate will be equal to the average inflation rate over the past 10 years O c.use all available information in forming their expectations about inflation O d. assume that this year's inflation rate will be the same as last year's inflation rate

People are said to have rational expectations if they Select one: O a. merely guess at the inflation rate O b. assume that this year's inflation rate will be equal to the average inflation rate over the past 10 years O c.use all available information in forming their expectations about inflation O d. assume that this year's inflation rate will be the same as last year's inflation rate

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 4.10P

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