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Your little brother has a big ball of clay. While he watches, you roll the ball of clay into a long snake-like shape. He begins to cry because he thinks he has less clay now. Which of Piaget's stages is your brother likely to be in?
Exports
Goods or services produced in one country and sold to buyers in another, contributing to a country's economic growth and balance of trade.
Imports
Goods and services bought by a country from another country.
Trade Deficit
The amount by which the value of a nation’s imports exceed the value of its exports.
International Payments
Transactions between countries involving the transfer of money and payments for goods and services across borders.
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