Fоr eаch situаtiоn, identify the primаry investment decisiоn or strategy and explain whether it is active or passive.a) An investor holds broad stock and bond index funds at fixed long-term target weights and rebalances once each year.b) A portfolio manager temporarily reduces stocks and increases cash because the manager expects a recession during the next six months.c) An analyst keeps the portfolio's asset-class weights unchanged but researches individual companies to identify undervalued stocks.