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I know in HTML or LaTeX there is a way to easily put a phrase in a monospace font. Is there a way to do this in Mathematica without manually changing the font for the words I want in monospace?
It will depend on what style sheet you use. In the Default style sheet you can select the text and hit the Cmnd+9 (OS x — I think it's Alt+9 on Windows).
Here is an example.
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