Examlex
Simplify. Assume that all variables represent positive real numbers.
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GDP
Representing the aggregate value of all goods and services made within a specified period, the Gross Domestic Product provides an overview of a country's economic standing.
Economic Integration
The process by which different countries reduce trade barriers and coordinate their economic policies to facilitate trade and investment flows between them.
NAFTA
stands for the North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico that eliminated most tariffs and barriers to trade and investment.
European Union
A political and economic union of 27 European countries that are located primarily in Europe, aiming to ensure the free movement of people, goods, services, and capital.
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