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Britain has historically differed from other European countries such as France and Germany because of its reliance upon
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production.
Constitutional Amendment
A formal change or addition to a constitution, often requiring a specific process and approval to be enacted.
Budget Surpluses
Occurs when a government's revenues exceed its expenditures during a fiscal period, leading to extra funds.
Budget Deficits
A financial situation where expenditures exceed revenue.
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