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Explain how the aggregate demand and aggregate supply model can be made more dynamic.
Overgeneralization
The application of a rule or conclusion to more instances than is justified, often leading to mistaken beliefs or misjudgments.
Traditional Thinking
A mindset adhering to established practices, beliefs, or methods, often resistant to change or innovation.
Casual Observation
An informal or unstructured method of noticing and recording events or behaviors without systematic analysis.
Unscientific Thinking
Processes of thought that do not adhere to the established or accepted frameworks and methodologies of the scientific community, often lacking empirical evidence.
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