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Covariation:
Protectionism
The economic policy of restricting imports from other countries through methods like tariffs and quotas to protect domestic industries.
Frederic Bastiat
Frederic Bastiat was a 19th-century French economist and writer known for his advocacy of free markets, individual freedoms, and his critiques of socialism.
Balance-Of-Trade Deficit
A situation where a country's imports exceed its exports, leading to a negative balance in trade.
Coal
A fossil fuel used primarily for electricity generation and steel production, composed mostly of carbon.
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