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Explain the process of gas exchange in the lung.
Income Increased
A scenario where an individual's or entity's earnings rise, affecting their purchasing power and economic well-being.
Income Elasticity
A measure of how the demand for a good or service changes relative to a change in consumers' income.
Normal Good
A good for which demand increases as the income of consumers increases and decreases as the income of consumers decreases.
Inferior
A term used in economics to describe goods whose demand decreases as the income of the consumer increases, contrasted with normal goods.
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