explain equilibrium level of income and employment according to kenysian approach?
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Answer:In the Keynesian analysis, the equilibrium level of employment and income is determined at the point of equality between saving and investment. ... It is defined as the excess of income over consumption, S=Y-C and income is equal to consumption plus investment.
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»According to the Keynesian Theory, equilibrium condition is generally stated in terms of aggregate demand (AD) and aggregate supply (AS).
»An economy is in equilibrium when aggregate demand for goods and services is equal to aggregate supply during a period of time.
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