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Which of these nations was forbidden to join in the international arms race after World War II, and has thrived economically as a result?
Nonpaying Customers
Individuals or entities that receive goods or services without providing payment or compensation.
External Benefits
refer to positive effects of a transaction or activity on third parties who are not directly involved in the transaction.
Economic Efficiency
A situation in which resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
Market
A system or an environment where buyers and sellers interact to trade goods, services, or financial instruments.
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