Examlex
Which of the following statements is NOT true?
Full Employment
A situation in an economy where all individuals who are willing and able to work at current wage levels are employed, with minimal levels of unemployment.
Keynes
John Maynard Keynes was a British economist whose ideas fundamentally affected the theory and practice of modern macroeconomics and the economic policies of governments.
Aggregate Demand
Aggregate demand represents the total sum of demand for all products and services in an economy, measured at a specific price level and during a particular time frame.
Full Employment GDP
The level of GDP at which all available labor resources are being used in the most efficient way possible, typically associated with a low unemployment rate.
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