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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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