Solved

Léon Walras' Late Nineteenth-Century Model of the Economy Consisted Of

Question 7

Multiple Choice

Léon Walras' late nineteenth-century model of the economy consisted of:


A) a system of equations that represent the demand and supply sides of the many markets in which transactions simultaneously occur.
B) a small number of equations representing the aggregate behavior of a few groups.
C) a single equation linking total output to the principle inputs such as labor and capital.
D) a verbal explanation of how the distribution of income would become gradually less equal.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents