Sophia is in Professor Bleistift's office
crying. Sophia has missed five classes and Professor
Bleistift's syllabus clearly states that any student
missing more than three classes will automatically flunk.
If Sophia flunks the course, she will not graduate, and
she tells the professor that as a result her life will be
messed up and his silly attendance statement will be at
fault. Therefore he should waive that statement and pass
her. To a macroeconomist, the issue here looks a great
deal like issues involving:
recognition lag.
life-cycle hypothesis.
rational expectations.
policy rules.
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