Suppose that during the last ten years, Nicole tried to forecast future inflation rates to negotiate her
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Suppose that during the last ten years, Nicole tried to forecast future inflation rates to negotiate her salary. Every year, she used all available information and even incorporated news about the conduct of monetary policy. However, her forecasts were sometimes above and sometimes below the actual inflation rate. Was Nicole forming rational expectations?
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Nicoles behavior seems consistent with the concept of rational expectations in economics Rational ex...View the full answer
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