Economy, asked by akanshaverma4006, 1 year ago

How does equilibrium level of income is determined? Which factors do changes in the national income? Answer in 500 words

Answers

Answered by Anmol18125
10


In other words, effective demand is that level of aggregate demand (aggregate expenditure) which becomes effective in determining equilibrium level of income because it is equal to aggregate supply of output. ... Thus, the level of national income is determined by and equal to effective demand.


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