Explain the concept of Deflationary Gap and the role of 'Open Market Operations' in reducing this gap.
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'Open Market Operations' in reducing this gap. - Explain the concept of Deflationary Gap and the role of 'Open Market Operations' in reducing this gap. Inflationary gap is also referred to as excess demand. When aggregate demand is greater than aggregate supply, at full employment level in the economy, it is referred to as inflationary gap or excess demand.
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