Identify the situation in which the equilibrium level of output is less than the full employment level of output? Option 1: Aggregate demand. Option 2: Equilibrium demand. Option 3: Excess demand. Option 4: Deficient demand.

The answer is 'Deficient demand.'. View full solution:

CUET Economics - Identify the situation in which the equilibrium level of output is less than the full employment level of output? | PYQs + Solutions

CUET Economics 2025 28 May Shift 2

Macro

Medium

Aggregate demand.

Equilibrium demand.

Excess demand.

Deficient demand.

✅ Correct Option: 4

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