rational expectations hypothesis
*noun*; a method of representing the economy as the sum of many identical individuals and firms, each represented by a system of mathematical equations. The Rational Expectations Hypothesis (REH) takes its name from the premise that economic actors, i.e., everyone, do not make consistent errors about the present or future behavior of markets. REH was devised mainly as a rebuke to Keynesian economics, and in particular, the strategy of fiscal policy or monetary policy. According to the REH, fiscal policy does not alter aggregate demand because the "average" person recognizes that her lifetime income is not increasing--so she needs to save rather than spend the stimulus money, in anticipation of higher taxes in the future. At the same time, monetary policy does not work because it relies on lowering interest rates to make more money available; more money means inflation, but people have to be deceived into thinking prices for their product are going up, so they will expand production. According to REH, people or firms will figure this out, and see increased demand as mere inflation. Instead of increasing output and employment, they'll want to raise prices so they can meet their future bills. According to REH, both monetary and fiscal policy rely on illusions to work; and since people (on average) will make rational estimates o the future, they will defeat these illusions.
The Urban Dictionary Mug
Ur momgay Very cool it is. mmmmmh very much I like.
Every Aspect of my Order (as First-Time customer) was actually very good, nice. .I ordered a white drinking mug with a Red background with text. would recommend this Site again.
so cool! u can make sarcastic stuff too. i put: sarcasm: being an absolute asshole
Like the mug for my daughter, but didn’t notice that I had color choices when checking out. The yellow was pre-set so I got that color. Would much rather have selected a different color.
Cute, well-made mug! Exactly like the photo. I can't wait to give this as a gift this Christmas!
The description of a person by their names is the realest I’ve ever come across
Mug looks great and everything is spelled correctly.
I love my mug! 💘
the photo is all you need to know.
It’s pretty damn cool
It was a really good hoe mug!!!!!
Exactly what I was hoping for! Great product
My coworkers see all the cups I order from you, and this one is already one of their faves
Just what I expected. Merchandise looked just like it did online. Showed my friends and even they loved the cup! Plan on ordering more merchandise from you guys. Thanks. KLDS
Astounding Mug. I found this Mug in a dark time, the time when I needed a mug the most. I went onto google.net and found this truly amazing piece of craftsmanship. Manny Heffley came out of my computer and started to gyrate, before hopping out completely and eating my asshole. It felts so good, I started shaking and moaning, rapidly convulsing on the floor. Manny Heffley slowly crawled into my, hiding in my womb in order to store his power for 12 months and evolve to the form of "Baby 2". Thank you, Urban Dictionary. This mug changed my life.
Looks great and quick delivery
very good quality, wasn’t broken or anything and was a good gag gift !
I gave it to her today. And she loved it said it was her to the T
The Printing wasn't very sharp, but it's good enough.
It was a surprise gift for someone and she absolutely loved it!
Review Details
Pro Customization
Create unique products with your own words and definitions
Live Preview
Personalize Your Design
Debug: Product Metadata
| Key | Value (click to copy) |
|---|---|
Copied! |
Return Policy
Made Just For You
Each product is custom-printed with your unique text, making it truly one-of-a-kind.
Defect-Free Guarantee
If your product arrives with printing defects, damage, or quality issues, we'll send you a free replacement.
Custom Orders
Due to the personalized nature of your order, we don't accept returns for change of mind or sizing issues.
Questions about your order? Contact our support team for assistance.