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- There will be underemployment equlibrium.
- According to Keynes, equilibrium is mere intersection of AD and AS, full employment may or may not be there.
- Under employment equilibrium refers to a situation when AD is equal to AS but resources are not fully utilised.
- It occurs prior to the full employment level.
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Infrastructure is the set of fundamental facilities and systems that support the sustainable functionality of households and firms. Serving a country, city, or other area, including the services and facilities necessary for its economy to function.
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Aahana ❄❄ 4 years, 10 months ago
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