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Determination of Income and Employment — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsDetermination of Income and Employment1 Mark
Question
Give the meaning of inflationary gap.
✓

Answer

The excess of aggregate demand over the aggregate supply at full employment level of income is known as inflationary gap.

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