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单词 classical dichotomy
释义 classical dichotomy

The view that real variables in the economy are determined purely by real and not by monetary factors, and nominal variables are determined purely by monetary factors and not by real ones. Keynesian economics is strongly opposed to this view, at least in any time-scale but the very long run. Given the widespread use of fixed money prices in contracts, debts, and tax systems it is hard to see how anybody can believe that the classical dichotomy holds in the short run.

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更新时间:2025/1/22 17:55:04