CAN AN ECONOMY BE IN EQUILIBRIUM WHEN THERE IS UNEMPLOYMENT IN ECONOMY.EXPLAIN.

Off-course, an economy can be at equilibrium when there is unemployment. Keynes was the first economist to show the possibility of underemployment equilibrium. In underemployment equilibrium, equilibrium is achieved before the full employment level. This is what we learn under the topic of deflationary gap.

To understand the concept of deflationary gap, follow the link given below.
https://www.meritnation.com/ask-answer/question/define-deflationary-gap/the-government-budget-and-the-economy/6880065