In the Short Run, a Model of How Expectations Are

question 1

Multiple Choice

In the short run, a model of how expectations are formed

• A) must be the single model that supports the natural-rate property in the long run.
• B) must be singularly identified and employed to ex p l o re the effe c t iveness of m a ny diffe rent policies if comparat ive policy studies are to be meaningful.
• C) must be altered whenever macroeconomic policy changes.
• D) makes little difference when it comes to reaching qualitative results already supported by empirical research.
• E) none of the above.

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Definitions:

Dominant Culture

The established language, religion, behavior, norms, and social practices that are considered the standard or norm in a society.

Ethnic Identity

How members of ethnic, racial, and cultural minorities view themselves, both as members of their own group and in terms of their relationships with other groups.

Ethnic

Pertaining to a group of people who share a common cultural background, heritage, language, or nationality.

Racial

Related to the classification or categorization of human beings based on physical characteristics, ancestry, genetics, or social relations.