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According to the real-balance effect, an increase in the price level will
Federal Government
The national government of a federation, which holds the authority to govern the entire country, distinct from state or local governments within the federation.
State Government
The governing body of a state in a federal system, responsible for local legislation, administration, and execution of state laws.
Swimming
The act of propelling oneself through water using the limbs, often considered both a recreational activity and a competitive sport.
Federal Government
A system of government where powers are divided between a national (federal) government and local (state or provincial) governments.
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