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The simple monetary policy rule discussed at length in the text is:
Faster Decisions
The process of making choices or conclusions more rapidly, often necessary in dynamic or time-sensitive environments for efficiency or competitive advantage.
Positive Outcomes
Results or consequences that are desirable, beneficial, or have a good impact on individuals or groups.
Recognition Heuristics
A psychological strategy where a person makes a decision based on the recognition of one alternative over others, often used in situations involving uncertainty.
Economic Models
Simplified representations of complex economic processes used to predict and analyze economic outcomes.
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