Say's Law argues that a given must create an equivalent ____ somewhere else in the econ

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Say's Law argues that a given must create an equivalent ____ somewhere else in the econ

omy. potential GDP; value of supply total quantity of goods; price level for output natural rate of unemployment; full employment GDP value of supply; value of demand

Business

1 answer:

serg [7] · Answer 1 · 2022-08-10T09:45:39+03:00

Based on the economic theory of demand and supply, Say's Law argues that a given "value of supply" must create an equivalent "value of demand" somewhere else in the economy.

This is based on the idea that supply would deduce the size of the macro-economy, which in turn makes sense in the long run.

Jean Baptiste Say is a French economist famous for being an adherent supporter of business competition, free trade, and removing restraints on business activities.

His Say's law was famous as it tried to define the market condition. Say's law is sometimes referred to as the Law of Market.

Hence, in this case, it is concluded that the correct answer is option D. "value of supply; the value of demand."

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Say's Law argues that a given ____________________ must create an equivalent ________________________ somewhere else in the econ

Say's Law argues that a given must create an equivalent ____ somewhere else in the econ