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प्रश्न
When does a situation of excess demand arise in an economy?
लघु उत्तर
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उत्तर
A situation of excess demand arises when aggregate demand is more than aggregate supply at the level of full employment. This means people want to buy more goods and services than the economy can produce, leading to inflation (rise in prices).
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पाठ 12: Theory of Income and Employment - TEST YOURSELF QUESTIONS [पृष्ठ २३०]
