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Determination of Income and Employment
Question
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What is meant by effective demand in the context of short run fixed price?

Answer

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The level of aggregate demand required to achieve full employment equilibrium is called effective demand.

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Some More Questions From Determination of Income and Employment Chapter

Explain the meaning of aggregate supply (AS).

Calculate consumption level for Y = र 1000 crores if consumption function is C = 300 + 0.5Y.

State relationship between income and consumption.

What is Breakeven point?

What are the types of Propensity to consume?