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Question

Which of the following statements is associated with general equilibrium analysis?

A Equilibrium in the market of gold ornaments Correct Answer Incorrect Answer
B Equilibrium across all markets in the economy Correct Answer Incorrect Answer
C Equilibrium price of a good in the competitive market Correct Answer Incorrect Answer
D All of the above Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

General equilibrium shows how supply and demand interact and tend toward a balance in an economy of multiple markets working at once.

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