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Monetary Neutrality
The proposition that changes in the money supply do not affect real variables.
Long-Run Phillips
An economic concept suggesting that there is no long-term trade-off between inflation and unemployment, contrary to the short-run Phillips curve.
Monetary Neutrality
The concept that changes in the money supply only affect nominal variables, like prices, not real variables like output or employment in the long term.
Classical Dichotomy
The theoretical separation of nominal and real variables
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