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Recession
A significant decline in economic activity across the economy, lasting longer than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Trade Surplus
The amount by which a nation’s exports of goods (or goods and services) exceed its imports of goods (or goods and services).
Trade Deficit
A situation where a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in.
Imports
Goods or services brought into a country from abroad for sale, which can impact the domestic economy and domestic industries.
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