Question
Adaptive expectations and rational expectations
Answer :
Word Count : 158
| Aspect | Adaptive Expectations | Rational Expectations |
|---|---|---|
| Definition | Expectations are formed based on past experiences and trends. | Expectations are formed using all available information, including future policy actions. |
| Adjustment Process | Gradual adjustment of expectations based on the actual outcomes. | Immediate adjustment to all available information, including new policies. |
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