If expectations are formed adaptively, then people A) use more inform

If expectations are formed adaptively, then people

A) use more information than just past data on a single variable to form their expectations of that variable.
B) often change their expectations quickly when faced with new information.
C) use only the information from past data on a single variable to form their expectations of that variable.
D) never change their expectations once they have been made.

ANSWER

C