ECON 500 - HW2 - 20 POINTS DUE ON FEBRUARY 28 BY 9:30 AM IN CLASS BEFORE WE START OUR CLASS PRINT YOUR NAME N1. Consider the following equations: (1) Ba + PG = + MS - Mg (2) By + PI = iti + PYS Answer the following questions: For these two equations: a) name the sectors present b) derive the Walras' Law (show your derivation - all the steps - a must to receive the credit) c) explicitly explain why the Walras' law holds. N2. Discuss the economic sense of the assumed signs (why?) for the function arguments in the following equations: 1) BP = B ( Bf , W, PB , 0, K ) , where K is known level of capital. 2) N'S = N(- Of Mn+ Bh, w, H, -B ) P 20230222_204458.jpg 5.2 MB