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When nominal interest rates are are zero, the AD curve has a ________ slope because when aggregate output decreases the monetary authorities ________ lower the nominal interest rate. As inflation rises the real interest rate _______which will ________ investment and aggregate output.
Anecdotes
Short, often amusing or interesting stories about a real incident or person, typically used to illustrate or support a point.
ESP
Extrasensory perception, which is the claimed ability to gain information through the mind without the use of the traditional five senses.
Falsifiable
A criterion for a theory or hypothesis, stating that it must be possible to refute it through observation or experiment.
Replicable
Capable of being recreated or reproduced under the same conditions, ensuring the reliability of scientific findings.
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