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If a union successfully negotiates for higher wages and benefits for steel workers, what impact would this have on supply and demand in the market for steel, assuming no other changes take place in this market?
George C. Marshall
A key U.S. military leader during World War II who served as Army Chief of Staff and later as Secretary of State, developing the Marshall Plan to rebuild Europe's economy.
European Recovery Plan
The European Recovery Plan, also known as the Marshall Plan, was an American initiative after World War II to aid Western Europe, in which the U.S. provided substantial financial assistance to rebuild European economies and prevent the spread of Soviet communism.
Potsdam
A city in Germany known for hosting the Potsdam Conference in 1945 where Allied leaders discussed post-World War II order.
Diplomatic Relations
The formal interactions between sovereign states conducted through diplomatic representatives, aiming to manage and improve mutual relations.
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