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
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This was a phrase my husband and I made up even we first started dating. We laughed so hard while submitting it. The mug is perfect!
Urban Dictionary. Mixes truth with lies. Keeps a record. Thanks for the truthful parts, bro. 🙏💪✝️
I wish I had this mug I SOOOO wish I had this mug! I never find anything that has my name on it unless I have it custom made. I'm actually quite surprised that 'Lani' is on the Urban Dictionary... And the definition is pretty accurate ;)
really awesome mug I gave this mug as a secret Santa gift and and my cousin still uses it to this day. It is truly a awesome mug and it deserves 5 stars.
i shit in it
I cumed in my pants when it arrived in the mail. no more porn, just mug
i love it. my friend loved it. yay. now i'm happy and not depressed anymore.
You can't get a mug from any other dictionary site
Was quality and delivered quick our friend loved it!
Quality and style are outstanding relative to price point.
Quick delivery, easy ordering, unique and special gift!
My coach loves it. I gave this to my coach and she was over the moon. Ever been hugged by an Olympic gold medalist?
Perfect cuup of coffee size, and the printing is spot on!
Arrived speedily and exactly as pictured.
I LOVE GETTING THE FUCKING MUG
The wife absolutely loved it for her birthday
it was the best and it was so worth the 10000000000 dollars
Can we really send one to Trump? That's where mine is going. Anyone who gets it will see it as a compliment, I'm sure. Love my mug and love that new "urban dictionary" term: Celebritrash. It'll be in the mainstream dictionaries next week.
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