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What is the two-step flow of communication?
Unemployment
The situation where individuals who are capable of working and are seeking work are unable to find employment.
Classical Notion
An economic theory advocating for free markets, competition, and minimal government intervention in the economy.
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.
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