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In which case did the U.S. Supreme Court hold that a statute must give fair notice to both law enforcement and citizens on exactly what conduct is forbidden so as to limit arbitrary enforcement and provide individuals with fair warning of what they lawfully may do?
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.
Absolute Advantage
The ability of a country or individual to produce a good more efficiently than another entity with the same resources.
Trade Deficit
The circumstance where a country's imports outpace its exports, causing a negative trade balance.
Trade Surpluses
Trade surpluses occur when a country's exports exceed its imports over a given period, indicating a net inflow of domestic currency from foreign markets.
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