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
The mug is great! I bought it as a gag gift for a friend, and I didn't really think it was going to be a good mug, but when I got it I was super surprised! It is really high quality feeling ceramic and the print is very clear and good looking. It was also packaged really well, and the shipping process was nice too! It did take longer than I thought to get here, but it's understandable as I did order it custom. In all it is an amazing mug and I think I'm gonna have to buy one for myself.
This mug is great! It comes in perfect condition and I love that you can change the definitions! I put my name and then I put the definition as ‘the best person’. Made my day every time I picked it up.
My name is Asher, I looked my name up a few days ago and we all had a good laugh. Now, this mug is my go to morning mug for drinking my herbal tea and plotting to take over the realms.
I just love it. Just like I ordered!
Exactly as promised.
To beginulate, the muglification of the vessel is both pleasing to the eye as well as the hand. Secondly, the option of choosing one's own colors adds to the lessening if the so called " buyer's remorse" which so often accompanies modern "on line" purchases.
My husband absolutely loves this! This was a difficult product to find but it turned out perfectly! He was cracking up. Definitely worth the buy.
I bought this mug for my daughter for Valentine’s Day. She saw the different descriptions of her name on your site, and read every one of them!! She then found a mug with everything written about her name on it. So, I am surprising her with it. The mug looks great. Quick delivery!
I live in a Hillbilly Condo & love my flamingo pink mug.
Annie from the customer service team helped me out tremendously with some adjustments that I wanted done after my order was placed. I really appreciate her willingness to go above and beyond for my request. The product was received exactly how I wanted it! One happy customer over here. Thanks!
I love the item I ordered but found the website a little difficult to navigate.
Now this has been my favourite mug by far. I put the word of scrunkly on it just as i had envisioned. Now to know why i picked a scrunkly mug, we need to go back all the way to the year of 2016. It was a day like no other, the birds were tweeting. We were all laughing while playing in the playground. Then came that fateful moment. A cackle was heard screeching throughout the lands. I turned my head in complete and utter fear. Two seagulls stood there. One was cackling while a red liquid dropped from its mouth. The head of the seagull next to it was missing. The seagull had consumed its friend's head! A betrayal, no... a parley even! To this day I still hear the words which left that evil beast's beak. It said, "Awww, the scrunkly". It then flew off into the sunset, leaving nothing but chaos and carnage behind. Anyways 10/10 for the mug. Would buy again.
Came in like ordered, solid mug
The mug arrived as shown and expected. But, it is an average mug and the cost is quite high. It's funny and good as a one time gift. If we needed several, the cost would be prohibited. Again, funny product and as expected.
Love it. I can't wait to give it as a gift yo
This is lafayetti yummi yum yum Oui oui mon ami je m'appelle lafayette The lancelot of the revolutionary set I came from afar just to say "Bonsoir" Tell the king "Casse toi" Who's the best C'est moi
Awesome purchase, I can't wait to show off my "Progressively Straight" mug at Starbucks.
Mug was delivered undamaged just as ordered.
My order came quickly. Packaged well. Great job.
IT WAS MUG! CAME QUICK & SAID THING. HAVE NOT TASTED YET. NOT SMELL BAD, BUT DISHWASHER NONETHE LESS....
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.