What is a major difference between adaptive and rational expectations? Give an example of each. It has been said that the policy ineffectiveness proposition (connected with new classical theory) does...

What is a major difference between adaptive and rational

expectations? Give an example of each.

It has been said that the policy ineffectiveness proposition (connected with new classical theory) does not

eliminate policymakers’ ability to reduce unemployment through aggregate demand-increasing policies

because they can always increase aggregate demand by

more than the public expects.What might be the weak

point in this argument?