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Twin Deficits
The situation occurring when a country has both a current account deficit and a fiscal deficit, indicating excessive spending.
Trade Deficit
A situation where a country imports more goods and services than it exports, resulting in a negative balance of trade.
Gold Standard
An economic arrangement where paper money in a country directly mirrors the value of gold.
World War II
A global conflict that lasted from 1939 to 1945, involving most of the world's nations and leading to significant geopolitical changes.
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