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What Is the First Step in the Development of Selection

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What is the first step in the development of selection programs?


Definitions:

Trade Balance

The difference in value between a country's imports and exports over a certain period, indicating the relative strength of its economy.

Net Capital Outflow

The sum representing a country's outbound investments minus its inbound investments from abroad over a specific period.

Investment

The allocation of resources, such as capital or time, in expectation of future benefit or profit.

Net Capital Outflow

The difference between the purchase of foreign assets by domestic residents and the purchase of domestic assets by foreigners in a given period, reflecting the international flow of capital.

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