Question : When equilibrium level exceeds the full employment level ____ takes place.
Option 1: Excess demand
Option 2: Excess supply
Option 3: Unemployment
Option 4: None of the above.
Answer (1)
18th Jan, 2024
Correct Answer:
Excess demand
Solution :
If equilibrium level exceeds the full employment level then there is excess demand in the economy.
Hence, Option A is correct
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