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Aggregate demand and supply define the level of income and employment at which the economy is in balance. Determination of equilibrium income, according to Keynesian theory, is established when aggregate demand, represented by the C + I curve, equals total output (Aggregate Supply or AS).
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Preeti Dabral 3 years, 3 months ago
Aggregate demand and supply define the level of income and employment at which the economy is in balance. Determination of equilibrium income, according to Keynesian theory, is established when aggregate demand, represented by the C + I curve, equals total output (Aggregate Supply or AS).
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Aastha Kuldeep 4 years, 1 month ago
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