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Economists who are willing to accept mild inflation consider it to be a necessary by-product of high
and growing spending that produces high levels of output, full employment, and economic growth.
Instrument
A formal legal document that evidences an agreement, right, or obligation.
Authorized Representative
An individual who has been formally empowered to act on behalf of another person or organization.
Negotiated
The process through which parties discuss and reach a mutual agreement on the terms of a deal or contract.
Organization
A group of people with a particular purpose, such as a business or government department, organized for collective action.
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