What is meant by the term money illusion why is the, Microeconomics

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What is meant by the term money illusion why is the

Problem

1. What is the prediction made by the quantity theory of money?

2. Why is it often difficult to distinguish be-tween cost push and demand pull inflation?

3. What is meant by the term 'money illusion'?

4. Why is the existence of money illusion important to the derivation of the short run Phillips Curve?

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Microeconomics: What is meant by the term money illusion why is the

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