According to Walras' Law, in a General Competitive Equilibrium with a Total

question 26

Multiple Choice

According to Walras' Law, in a general competitive equilibrium with a total of ____ markets, if supply equals demand in the first _____ markets, then supply will equal demand in the _____ market as well.

• A)three; two; first
• B)three; three; third
• C)three; two; third
• D)three; three; first

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Definitions:

Social Learning Theory

A theory that suggests people learn from one another, via observation, imitation, and modeling.

Phallic Stage

A Freudian developmental phase where a child's focus of libido (sexual energy) is concentrated in the genital area, and they develop strong attachments to the parent of the opposite sex.

Electra Complex

A psychoanalytic theory introduced by Carl Jung, suggesting a girl's psychosexual competition with her mother for possession of her father.

Observation And Imitation

The process by which individuals learn new behaviors or skills by watching and mimicking others.