Walras' law/Definition: Difference between revisions
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The sum of the excess demands in all of the markets in a closed economy is equal to zero. | The sum of the excess demands in all of the markets in a closed economy is equal to zero. | ||
Latest revision as of 00:38, 23 May 2008
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Walras' law [r]: The sum of the excess demands in all of the markets in a closed economy is equal to zero.