Question: In a few short sentences, discuss the differences between the time path of inflation and output under adaptive and rational expectations, respectively. In particular, why

In a few short sentences, discuss the differences between the time path of inflation and output under adaptive and rational expectations, respectively. In particular, why does the rational expectations economy have less inertia with respect to inflation and output?

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Why choose the book The Premonition: A Pandemic Story?

The status rule: We tend to have more confidence in information presented by someone who has a relatively high status and rank in society than by someone who hasnt.

The spatial rule: The closer spatial proximity we have to an event, the more importance we will attach to it.

The visual rule: If we observe an event with our own eyes, we will attach more weight to it than if someone else had described it to us.