Adaptive expectations theory came about in the

early 1910s.

late 1960s.

mid 1970s.

late 1800s.

early 1980s.

Federal Reserve chairman Ben Bernanke’s move toward greater openness in the 2010s reflected which view of macroeconomics?

Only rational expectations matter.

Expectations matter, whether adaptive or rational.

Monetary policy should be active.

Expectations do not matter.

Monetary policy should be passive.

What is the impact on prices of expansionary monetary policy?

Prices rise uniformly.

Prices fall unevenly.

Prices are kept constant.

Prices fall uniformly.

Prices rise unevenly.