Equilibrium Occurs When the Aggregate Demand Curve Intersects the Aggregate

question 137

True/False

Equilibrium occurs when the aggregate demand curve intersects the aggregate supply curve.

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Definitions:

Revocation

The termination of an offer by notice communicated to the offeree before acceptance.

Acceptance

A statement or act given in response to and in accordance with an offer.

Offer

A tentative promise subject to a condition.

Breach of Contract

The non-performance of any clause in a contract, whether written or verbal, in the absence of a legitimate legal excuse.