Draw and Label a Simple Sketch Showing the Three Major

question 7

Essay

Draw and label a simple sketch showing the three major types of faults.

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Definitions:

Government Expenditures

The total amount spent by the government for its operations, programs, and public services.

Business Cycle

Fluctuations in economic activity, such as employment and production

Stabilization Policy

Government strategies aimed at reducing economic volatility and maintaining stable economic growth, including measures such as fiscal and monetary policy adjustments.

Economists

Professionals who study the production, distribution, and consumption of goods and services, often analyzing economic issues and policies.