The 'Effective Demand Principle' states that aggregate output is determined solely by : Option 1: The level of resources in the economy Option 2: The level of technology in the economy Option 3: The level of aggregate demand in the economy Option 4: The level of aggregate supply in the economy

The answer is 'The level of aggregate demand in the economy'. View full solution:

The 'Effective Demand Princip<=' states that aggregate output is determined so<=ly by :

The <=vel of aggregate demand in the economy

The <=vel of resources in the economy

The <=vel of technology in the economy

The <=vel of aggregate demand in the economy

The <=vel of aggregate supply in the economy

CUET Economics 2023 11 June Shift 3

Macro

Easy

The level of resources in the economy

The level of technology in the economy

The level of aggregate demand in the economy

The level of aggregate supply in the economy

✅ Correct Option: 3