Question : It refers to a situation with the aggregate demand is equal to aggregate supply when the resources are not fully employed. It generally occurs prior to full employment level.
Option 1: Full employment equilibrium
Option 2: Underemployment equilibrium
Option 3: Over full employment equilibrium
Option 4: None of the above.
Answer (1)
24th Jan, 2024
Correct Answer:
Underemployment equilibrium
Solution :
Underemployment equilibrium refers to a situation with the aggregate demand is equal to aggregate supply when the resources are not fully employed. It generally occurs prior to full employment level.
Hence, Option B is correct.
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