Distinguish between adaptive expectations and rational expectations. What is the impact of adaptive expectations on the Phillips Curve?

Adaptive expectations and rational expectations are two different theories that describe how individuals form expectations about future economic variables, such as inflation, interest rates, or output, based on available information. These two concepts differ in the way individuals incorporate past experiences, current information, and the role of systematic errors in predicting future economic conditions. 

Adaptive Expectations:
The concept of adaptive expectations is based on the idea that individuals form their expectations about future economic variables by adjusting them gradually in response to past events or experiences. Essentially, people rely on historical data, assuming that past trends will continue into the future. When an economic variable (like inflation) deviates from its expected value, people adjust their expectations slowly over time, using a moving average of past values. The adjustment process is typically gradual, and the speed of _____ ____ ____ ________ ______ _____ ______ ____ _________ _________ _____ ______.
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