Question 10 - The Pure Theory of Autoregressive Models - Two Behavioral Models, Which Can Be Used to Justify Koyck's Autoregressive Model [Source: Sproule (2021a)]: Two behavioral models have been developed, which justify Koyck's autoregressive model. These are: (a) the adaptive expectations hypothesis (AEH), and (b) the partial adjustment hypothesis (PAH). Answer the following questions: (a) Outline in full detail the nature of the AEH, and how the AEH can be used to justify Koyck's autoregressive model. [10 marks] (b) Outline in full detail the nature of the PAH, and how the PAH can be used to justify Koyck's autoregressive model. [10 marks]