Examlex
Explain why polar latitudes are typically cooler than the middle latitudes in summer even though polar latitudes experience longer daylight hours in summer.
Balance of Trade
The difference in value between a country's imports and exports over a given period, indicating trade surplus or deficit.
Tariffs
Taxes imposed by a government on imported or exported goods to regulate trade, often used to protect domestic industries from foreign competition.
Merchandise Trade Deficit
The situation that occurs when a country imports more goods than it exports, leading to a negative trade balance.
European Union
A political and economic union of 27 European countries that are located primarily in Europe, aiming to ensure peace, prosperity, and freedom of movement.
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