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Explain why in the case of a supply shock, the negative trade-off between inflation and unemployment does not hold.
Fourth Crusade
A military expedition from 1202 to 1204, originally intended to conquer Muslim territories in the Holy Land but diverted to Constantinople, leading to the sacking of the city.
Constantinople
An ancient city, now known as Istanbul, that has served as the capital of the Roman, Byzantine, Latin, and Ottoman empires.
Monreale
A town in Sicily, Italy, known for its Norman-Byzantine cathedral, celebrated for its golden mosaics.
Iconoclasm
The action of attacking or assertively rejecting cherished beliefs and institutions or established values and practices; also refers specifically to the historical periods when religious icons were destroyed or rejected.
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