Who is a leading economist in the theory of rational expectations?
A)Adam Smith
B)Richard Lipsey
C)William Phillips
D)Robert Lucas

Question

Quizplus · Accepted Answer

Robert Lucas is known as a leading economist in the theory of rational expectations. He developed this theory in the 1970s, which suggests that people use all available information to make predictions about the future and adjust their behavior accordingly. This theory has been influential in shaping macroeconomic policy and understanding how individuals and firms make decisions based on expectations.

Who Is a Leading Economist in the Theory of Rational