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What is National Income Equilibrium Analysis about?
The document discusses how equilibrium level of income, output and employment are determined using different approaches in macroeconomics. It explains that equilibrium occurs at the point where aggregate demand (AD) equals aggregate supply (AS), or where planned savings equals planned investment. This is shown using schedules and diagrams. The key points are: 1) Equilibrium happens when AD=C+I equals AS=C+S, where consumption (C) and investment (I) determine aggregate demand and consumption and savings de
- Author
- Ansh Dawar
- Language
- EN