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Part 1 (6 points) See Hint The table below reports the actual inflation rate from 2016 to 2020. Complete the table, assuming people form expectations

Part 1 (6 points) See Hint The table below reports the actual inflation rate from 2016 to 2020. Complete the table, assuming people form expectations adaptively, Give all answers to two decimals. Year Error Actual inflation rate 3% 2016 Expected inflation rate 3% a) % 0% 2017 4.00% b) % 2018 5.00% 4.00% c) c) % 2019 4.00% d) % 1.00% 2020 3.00% e) 6) %

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