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1
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an account in a nations balance of payments that shows the flow of financial capital into and out of a nation
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4
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the concentration of productive efforts of individual or business firms on a limited number of activities
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5
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an agreement among countries to remove the barriers to trade among themselves
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6
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a payment by a country to its exporters, enabling them to sell their products abroad at a lower price than at home
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8
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the value of one nations currency stated in terms of the value of another nations currency
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9
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the ability of a person or a nation to produce a good at a lower cost than another person or a nation
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10
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a record of all exchanges between its residents and those of other nations over some time period
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12
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the value of goods and services bought and sold on the world market
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13
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a nations balance of payments that includes exports and imports of goods and services, net investment income, and net transfers
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1
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the ability of an individual or nation to produce a product at a lower opportunity cost than another individual or nation
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2
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a good or service purchased from from a seller in another country
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3
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a good or service sold to a buyer in another country
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7
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a restriction on the amount of a specific good that can enter the country from abroad
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11
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a duty, or tax, on imports
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