Question

Which of the following
statements is associated with
general equilibrium analysis:

1.It is the method of study in
microeconomics

2. IT is the method of study in
macroeconomics

3. There is no change in the labour market​

Answer 1

Answer:

General equilibrium analyzes the economy as a whole, rather than analyzing single markets like with partial equilibrium analysis. General equilibrium shows how supply and demand interact and tend toward a balance in an economy of multiple markets working at once