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What impact does expansionary monetary policy have on the short-run Phillips curve if consumers and firms expect the expansionary monetary policy to increase inflation?
Future Expectations
Future expectations refer to the anticipations or outlooks regarding what may happen or what one may achieve in the future.
Discrepancy Expectations
The gap between anticipated outcomes and actual results, often leading to dissatisfaction or reevaluation.
Self-Defeating Behaviors
Actions or behaviors that undermine one's own goals, success, or well-being, often as a result of internal conflicts or psychological issues.
Faulty Knowledge Or Strategies
Errors or inaccuracies in understanding or approach that can lead to suboptimal decisions or outcomes.
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