Economy, asked by saurabh2000upadhyay, 1 year ago

How is equilibrium level determined in an economy

Answers

Answered by paryuljain23

3

Most simply, the formula for the equilibrium level of income is when aggregate supply (AS) is equal to aggregate demand (AD), where AS = AD. Adding a little complexity, the formula becomes Y = C + I + G, where Y is aggregate income, C is consumption, I is investment expenditure, and G is government expenditure.

Answered by vanshika7888

0

Answer:

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