Proponents of Rational Expectations Argued That the Sacrifice Ratio

question 172

Multiple Choice

Proponents of rational expectations argued that the sacrifice ratio

• A)could be high because it was rational for people not to immediately change their expectations.
• B)could be high because people might adjust their expectations quickly if they found anti-inflation policy credible.
• C)could be low because it was rational for people not to immediately change their expectations.
• D)could be low because people might adjust their expectations quickly if they found anti-inflation policy credible.

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