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When did the Neolithic transition begin?
Trade Deficits
A situation where a country's imports of goods and services exceed its exports, resulting in a negative balance of trade.
Saving Rate
The portion of income that is not spent on consumption but is saved or invested for future use.
Gold Standard
A monetary system where a country's currency or paper money has a value directly linked to gold; countries agree to convert currency into a fixed amount of gold.
Fixed Exchange-Rate
A regime under which the government or central bank ties the official exchange rate to another country's currency or the price of gold.
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