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A shortsighted view of customer interaction shows that:
Expected Price Level
This term represents the anticipated average price of goods and services in an economy over a certain period.
Potential GDP
The maximum possible level of output an economy can achieve when all resources are utilized efficiently, without causing inflation.
Prices
The amount of money required to purchase goods or services, acting as a signal in the market to influence supply and demand.
Natural Level of Employment
The rate of employment where the labor market is in equilibrium, with no cyclical unemployment.
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