Globalization - -process by which goods, services, capital, people, information, and ideas flow across national borders -trade deficit - -results when a country imports more goods than it exports ... -trade surplus - -results when a country exports more than it imports -gross domestic product (GDP) - -defined as the market value of the goods and services produced by a country in a year; the most widely used standardized measure of output -gross national income (GNI) - -consists of GDP plus the net income earned from investments abroad (minus any payments made to nonresidents who contribute to the domestic economy) [Show More]
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