National income equilibrium is not at the level where:
aggregate consumption is constant
The question asks which condition does NOT define national income equilibrium, so we recall the genuine equilibrium conditions in Keynesian income determination and pick the odd one out.
Equilibrium national income occurs where aggregate expenditure (demand) equals aggregate income (output), which is the same as saying planned aggregate investment equals planned aggregate savings; at this level there is neither an inflationary gap (excess demand) nor a deflationary gap (deficient demand). So the first three statements are all valid descriptions of equilibrium.
The statement that 'aggregate consumption is constant' is not an equilibrium condition. Consumption depends on income through the consumption function, so it changes as income changes; equilibrium is not defined by consumption being fixed. A constant level of consumption has no necessary connection to the point where expenditure equals income.
Therefore, among the four, the one that does not describe national income equilibrium is that aggregate consumption is constant.
Hence national income equilibrium is not at the level where aggregate consumption is constant.
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