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-In the figure above, the relationship between the x variable and the y variable
Free Trade
An economic policy that allows imports and exports with little to no government tariffs, quotas, or subsidies, aiming to enhance global economic efficiency.
Balance of Trade
The difference in value between a country's imports and exports over a certain period, indicating how much more goods and services a nation exports than it imports.
Services
Intangible products such as consulting, banking, cleaning, and education that are consumed at the point of sale.
Goods
Physical items that are produced and can be bought, sold, or traded.
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