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book M & B 4th Edition by Dean Croushore cover

M & B 4th Edition by Dean Croushore

Edition 4ISBN: 978-1111823351
book M & B 4th Edition by Dean Croushore cover

M & B 4th Edition by Dean Croushore

Edition 4ISBN: 978-1111823351
Exercise 10
What are expectations, and why are they important, in macroeconomic models? What would you think about a macroeconomic model that assumed that people's expectations of infl ation were constant, even though the infl ation rate changed over time?
Explanation
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Expectations are people's beliefs about ...

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M & B 4th Edition by Dean Croushore
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