The statement is True.
The required details about equilibrium gdp is mentioned in below paragraph.
When aggregate supply and aggregate demand are equal, the level of income in an economy is said to be at equilibrium. In other words, it occurs when total expenditures are equal to GDP. Gross domestic product (GDP) is a crucial economic metric for assessing a country's overall financial situation. It is determined by summing up the entire monetary value of all the goods and services produced in a nation over the course of a year. For instance, the United States' (US) GDP, which fluctuates every year, was over $14 trillion in dollars as of 2011. When a country's businesses produce precisely the quantity of goods and services that consumers desire to purchase, equilibrium GDP results.
Thus, it's True.
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