Instructions: Identify the Following Terms

question 96

Short Answer

Instructions: Identify the following terms.
Richard Nixon's visit to China

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Definitions:

Capital Formation

The creation of capital goods, which are used to produce other goods and services. It is a measure of economic growth and development.

Trade Deficit

The situation when a country imports more than it exports.

Economic Dependency

The condition of relying heavily on another economy for support, goods, services, or financial aid.

Income Distribution

How a nation’s total GDP is distributed amongst its population, affecting economic inequality.