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If the price of peaches, a substitute for plums, decreases, then the demand for plums will increase.
Expansionary Gap
A situation where the output of an economy exceeds its potential output, typically characterized by high demand and inflation.
Passive Approach
A strategy of minimal interference or intervention, often referring to investment strategies or management styles.
Aggregate Supply
Total supply of goods and services that firms in a national economy plan on selling during a specific time period.
Active Approach
A strategy where decisions are made through direct involvement and proactive measures, often in context to investment and management.
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