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Although France had been defeated by the Germans,it was allowed to establish a subject government in the south of France under the leadership of First World War hero:
Expected Price Level
Expected price level refers to the anticipated average cost of goods and services in the future, based on current trends and economic indicators.
Recessionary Gap
A condition in macroeconomics when an economy's real GDP is lower than its potential GDP, leading to unemployment and underutilized resources.
Increase Production
A situation where a company or country grows its capability to produce goods or services, often in response to higher demand or improved efficiency.
Marginal Costs
The additional cost incurred from producing one more unit of a good or service.
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