Economics · Macroeconomics
Milton Friedman's modification of A.W. Phillips' wage-inflation and unemployment interrelation (the expectations-augmented Phillips Curve) is based on which hypothesis?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rational expectation hypothesis
- 2Extrapolative expectation hypothesis
- 3Adaptive expectation hypothesis✓
- 4Stable expectation hypothesis
Correct answer
Adaptive expectation hypothesis
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