Question

Explain the equilibrium in an economy with the help of AD and AS curve .What happened if AD is greater than AS.
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Answer 1

Answer:

The determination of income and employment in the Keynesian model depends on the level of AD and AS. The point where AD = AS, i.e. Aggregate Demand meets, the Aggregate Supply is known as equilibrium point. When AD is greater than AS, flow of goods and services in the economy tends to be less than their demand.

Explanation:

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Answer 2

Answer:

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