Problem
1. Rationale for Rules Some economists call for predetermined rules to guide the actions of government policy makers. What are two contrasting rationales that have been given for such rules?
2. Rational Expectations Suppose that people in an election year believe that public officials are going to pursue expansionary policies to enhance their reelection prospects. How could such expectations put pressure on officials to pursue expansionary policies even if they hadn't planned to?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.