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If firms and workers have adaptive expectations,what impact will expansionary monetary policy have on inflation,unemployment,and the Phillips curve?
Continuing Behavior
Persistent actions or activities that an individual keeps doing over a period of time.
Cognitive Dissonance
A psychological phenomenon where an individual experiences discomfort due to conflicting beliefs, attitudes, or behaviors.
Coaction Effects
The impact on performance of the presence of other people engaged in the same task.
Source Confusion
Source Confusion is a memory error where individuals are unable to recall the true source of a memory, leading to misattribution of the information's origin.
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