During the 1960s,in face of moderate and stable inflation,people tended to form adaptive expectations of future inflation rates.

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Quizplus · Accepted Answer

This is true. During the 1960s, there was a period of moderate and stable inflation, which led people to form adaptive expectations regarding future inflation rates. This means that individuals expected future inflation rates to be similar to the current and recent past rates.

During the 1960s,in Face of Moderate and Stable Inflation,people Tended