General Knowledge · Macroeconomics
In economics, 'excess demand' refers to a situation where:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Output level is marginally increasing without price changes
- 2Aggregate demand exceeds the aggregate supply corresponding to full employment✓
- 3Output level exceeds the potential full employment level
- 4Aggregate demand is less than the output level at full employment
Correct answer
Aggregate demand exceeds the aggregate supply corresponding to full employment
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