Which Two Famous Economists Hypothesized That People Would Adapt Their

question 80

Multiple Choice

Which two famous economists hypothesized that people would adapt their expectations about inflation to something consistent with their prior experience?

• A) Ben Bernanke and Alan Greenspan
• B) Milton Friedman and Edmund Phelps
• C) Adam Smith and David Ricardo
• D) John Maynard Keynes and F.A.Hayek
• E) Irving Fisher and Adam Smith

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Definitions:

Milgram Obedience Study

A series of social psychology experiments conducted by Stanley Milgram, demonstrating people's willingness to obey an authority figure even when asked to perform actions conflicting with their personal conscience.

Ethics

The branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct, often addressing questions of morality.

Validity

The degree to which a test or instrument measures what it is intended to measure, accurately reflecting the concept it is designed to assess.

Tendency To Help

An inclination or natural propensity in humans to provide assistance or aid to others in need.