Walras' Law tells us that,:
A)supply will always equal demand.
B)if an economy has five markets and if supply equals demand in three of those markets, then supply will equal demand in the other two markets.
C)the prices in an N market economy can be determined for all N markets.
D)if an economy has five markets, then a general equilibrium analysis will yield the prices in four of the markets relative to the price in the fifth market.

Question

Quizplus · Accepted Answer

The Answer of Walras' Law tells us that,:
A)supply will always equal demand.
B)if an economy has five markets and if supply equals demand in three of those markets, then supply will equal demand in the other two markets.
C)the prices in an N market economy can be determined for all N markets.
D)if an economy has five markets, then a general equilibrium analysis will yield the prices in four of the markets relative to the price in the fifth market.

Walras' Law Tells Us That