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The Southern Cone Common Market (MERCOSUR) initially started as a bilateral agreement between which two countries?
GDP
Gross Domestic Product, the total value of all goods and services produced within a country in a given period.
Trade Deficit
A situation where a country's imports exceed its exports over a given period, leading to more money leaving the country than coming in.
Mixed Economy
An economic system combining elements of both capitalism and socialism, with some sectors privately owned and others controlled by the government.
Economy
The system by which goods and services are produced, distributed, and consumed within a particular country or region.
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