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प्रश्न
Give the relative significance of Aggregate Demand and Aggregate Supply.
लघु उत्तरीय
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उत्तर
Keynes’ theory of employment prioritises aggregate demand above aggregate supply. Keynes assumed that aggregate supply would be constant in the short term. Changes in aggregate supply are driven by capital, worker productivity, and technological factors. These three factors cannot be changed in a short period. However, changes in aggregate demand may occur in a short period.
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