Examlex
Express the rational number as a fraction of integers.
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Classical Dichotomy
The theoretical separation of nominal and real variables in the economy, suggesting that changes in the money supply only affect nominal variables and not real variables like output.
Monetary Neutrality
The economic theory suggesting that changes in the money supply only affect nominal variables and have no long-term effect on real variables such as output or employment.
Long-Run Aggregate-Supply Curve
The long-run aggregate-supply curve represents the total production of goods and services in an economy at different price levels, assuming all resources are fully utilized.
Misperceptions Theory
A theory suggesting that individuals' misperceptions about economic conditions can lead to fluctuations in economic output and employment.
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