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Walras’s Law.



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Walras’s Law is a fundamental principle of economics that states that, in an equilibrium market, the total amount of money exchanged must be equal to the total amount of goods and services exchanged. The law is named after French economist Léon Walras, who first proposed it in his 1874 work Elements of Pure Economics. In … Read more

Senior Bank Loan.



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A senior bank loan is a type of loan that is typically extended to a company by a bank or other financial institution. The loan is considered senior debt, meaning that it has a higher priority in the event of a default than other types of debt. This type of loan is often used to … Read more