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Alexandra's Macroeconomics class has to work in groups for a semester-long project on the Theory of Rational Expectations and its empirical applications in inflation-targeting in

Alexandra's Macroeconomics class has to work in groups for a semester-long project on the Theory of Rational Expectations and its empirical applications in inflation-targeting in the U.S. economy. Her group of 3 has just met this evening to outline the core focus of the assignment and is on the verge of assigning different components of the project to team members. It has been decided that Alexandra will work on the theoretical components of the assignment, while Sanjeev has been assigned to look for data on long-run inflation in the U.S. Adrian has been given the task of formatting all presentation materials and making sure that there are back-up notes for all slides. During this first meeting, none of the 3 team members seem to be very happy about their respective tasks and there have been many arguments and conflicts of opinion about how the project is to be completed. This team is in the stage of: Select one: a. Adjourning b. Forming c. Storming d. Performing e. Norming

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