Answer to Question #110521 in Macroeconomics for Lisa

Question #110521
Equilibrium level of income is that at which
1
Expert's answer
2020-04-20T18:41:25-0400

Equilibrium level of income is that at which aggregate demand and aggregate supply are equal in an economy. At equilibrium level of income, GDP equals total expenditure and savings is equal to investment during a specific period of time.


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