List and Explain the Six Steps in the Hydrological Cycle

question 32

Essay

List and explain the six steps in the hydrological cycle.

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Definitions:

Aggregate Demand Curve

A graphical representation showing the relationship between the total demand for goods and services in an economy and the overall price level.

Price Level

The average of all current prices for goods and services in an economy, often measured by a price index.

Keynesians

Economists who follow the theories of John Maynard Keynes, emphasizing the role government should play in moderating economic cycles through fiscal and monetary policies.

Aggregate Demand

The total market appetite for goods and services within an economy, delineated at a specific price level over an agreed time duration.