Problems Of Deficient Demand And Excess Demand — Practice Quiz
ICSE · Class 12 · Economics
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Quick Quiz: Problems Of Deficient Demand And Excess Demand
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What is deficient demand in the Keynesian framework?
Which term is used as a synonym for deficient demand?
What is another name for a deflationary gap?
Which situation describes excess demand?
Sample Questions
Which gap is associated with excess demand?
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Inflationary gap
Excess demand implies an inflationary gap.
What is the correct relationship between deficient demand and equilibrium?
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It leads to under-employment equilibrium
When AD is below full-employment AS, the economy settles at under-employment equilibrium.
What equilibrium results from excess demand?
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Over full employment equilibrium
Excess demand occurs when AD is above AS at full employment, leading to over full employment equilibrium.
Which policy pair is used to correct deficient demand?
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Fiscal policy and monetary policy
The chapter identifies fiscal policy and monetary policy as the two fundamental government policies for correction of demand disequilibrium.
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