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The income elasticity of demand for foreign travel
Expansionary Policy
Economic policies implemented by a government to stimulate growth in a sluggish economy, typically by increasing money supply or reducing taxes.
Economic Stability
Economic stability refers to a state where an economy experiences constant growth, low inflation, and low unemployment, reflecting a balanced economic environment.
Stock-Market Crash
A rapid and often unanticipated drop in stock prices across a significant cross-section of a stock market, resulting in a loss of paper wealth.
Great Depression
A severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment and poverty.
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