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Which of the following is true according to adaptive expectations theory if the actual rate of inflation was 5 percent in the previous year? a

Which of the following is true according to adaptive expectations theory if the actual rate of inflation was 5 percent in the previous year?
a. Workers expect the rate of inflation in the current year to be less than 5 percent, and this shifts the short-run Phillips curve leftward.
b. Workers expect the rate of inflation in the current year to be 5 percent, and this shifts the short-run Phillips curve leftward.
c. Workers expect the rate of inflation in the current year to be 5 percent, and this shifts the short-run Phillips curve rightward.
d. Workers expect the rate of inflation in the current year to be less than 5 percent, and this shifts the short-run Phillips curve rightward.
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