Examlex
In a particular country in 1999,the average worker had to work 20 hours to produce 55 units of output.In that same country in 2009,the average worker needed to work 28 hours to produce 77 units of output.In that country,the productivity of the average worker
Recession
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
World Trade Organization (WTO)
An international organization that regulates and facilitates global trade agreements between nations to ensure trade flows smoothly, predictably, and freely.
Trade Negotiations
The process whereby countries or organizations discuss, agree upon, and arrange the terms of trade in order to facilitate international business.
Trade Disputes
Disagreements or conflicts arising between employees and employers or between different labor unions, often regarding terms of employment or working conditions.
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