Examlex
The distance between lines of longitude is equal across the globe.
Transfer Payments
Payments made by the government to individuals for which no good or service is provided in return, such as welfare, unemployment benefits, and social security.
Welfare Benefits
Welfare benefits are financial or service-based assistance provided by the government to support individuals and families in need, aiming to ensure a minimum standard of living.
Economic Contractions
Periods where an economy experiences a decline in its general economic activity, often marked by reduced GDP.
Laissez-faire
An economic philosophy of free-market capitalism that opposes government intervention in business affairs.
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