In the Specification of Adaptive Expectation Used in the Dynamic $\pi$

question 98

Multiple Choice

In the specification of adaptive expectation used in the dynamic model of aggregate demand and aggregate supply, at time t the expected inflation rate at time t + 1 is:

• A) \(\pi\)_{t - 1.}
• B) \(\pi\)_t.
• C) \(\pi\)_{t + 1.}
• D) \(\pi\)_{t + 2.}

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Definitions:

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