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What is the relationship between moderators and external validity?
Exports and Imports
involve the selling of goods and services to other countries (exports) and buying goods and services from other countries (imports), crucial components of a country's economy.
Frederic Bastiat
Frederic Bastiat was a French economist and writer known for his advocacy of free markets and critique of protectionism, best remembered for his works such as "The Law" and "Economic Sophisms."
Standard of Living
The level of wealth, comfort, material goods, and necessities available to a person, group, or society.
Lower Cost
Refers to a reduction in the expenses incurred in the production of goods or services, improving profitability and competitive advantage.
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