Explain the meaning of Deflationary Gap. State one wav of correcting it.
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Deflationary gap. When aggregate demand is less than the level of output at full employment, then the deficiency or gap is called deflationary gap. ... It is a measure of the amount of deficiency in aggregate demand. Briefly, deflationary gap is synonym of deficient demand.
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Deflationary gap is the shortfall in AD from the level required to maintain full employment in the economy
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