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Explain the Keynesian theory of money demand.What motives did Keynes think determined money demand? What are the two reasons why Keynes thought velocity could not be treated as a constant?
Diffusion
The process by which innovations or cultural practices spread within and across populations over time.
Pilot Change
An initial, small-scale implementation of a change or a new project intended to test its feasibility and effectiveness before wider application.
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Workers who perform manual labor, typically requiring physical work and often in industrial or manufacturing settings.
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The introduction of new ideas, methods, or products designed to improve effectiveness, efficiency, or competitive advantage.
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