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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the difference between rational expectations and adaptive expectations?

To determine

Difference between Rational and Adaptive expectation.

Explanation

Rational Expectation is an economic hypothesis in which consumers make decisions according to their past experiences, their present and past decisions, their predictions about future and present, current policies of government etc.

Rational Expectation theory suggests that current expectations in the economy will become real in the future...

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