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{"ops":[{"attributes":{"bold":true},"insert":". Explaining short-run economic fluctuations"},{"attributes":{"header":2},"insert":"\n"},{"insert":"Most economists believe that real economic variables and nominal economic variables behave independently of each other in the long run.\nFor example, an increase in the money supply, a"},{"attributes":{"bold":true},"insert":"\u00a0 \u00a0"},{"insert":"\u00a0variable, will cause the price level, a"},{"attributes":{"bold":true},"insert":"\u00a0 \u00a0"},{"insert":"\u00a0variable, to increase but will have no long-run effect on the quantity of goods and services the economy can produce, a"},{"attributes":{"bold":true},"insert":"\u00a0 \u00a0"},{"insert":"\u00a0variable. The notion that an increase in the quantity of money will impact the price level but not the output level is known as"},{"attributes":{"bold":true},"insert":"\u00a0 \u00a0"},{"insert":"\u00a0.\n"}]}
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