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
Quick shipping and awesome hysterical product!
I fucked with it for months before i finally ate it.
Great mug! Got a homo mug for a friend's birthday and he adored it. :)
love it
THINGS ARE GETTING A LITTLE WILD AT CAILLOU'S HOUSE!
The thing is amazing. Also everything on the back is true!
Professor - I am loving this ....not all professors are blasted toward intellectualism. I believe smart comes in all different sizes, color, beauty, and personality. I will use this coffee cup proudly. Loving it in Denver. Jax
It was great! Very hard to break and easy to hold! Also very cute
I sent my friend the Wordle URL for her to enjoy. She did her first Wordle and got so excited, she sent me a text including the answer she got. This showed at the top of my screen and I read it - there was no way to un-read it so I was ... wordlefucked for the day!
Solid mug. Funny design. Fair price
My dad hits me with his mug. It's very very durable
I got the Capybara one made by FAUBCOK and it was so good quality!
i loved the mug, gave it to my grandmother on her birthday
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.
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