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Which of the following is true of a competitive market equilibrium?
Precautionary Motive
The desire to hold cash or liquid assets to guard against unexpected events and emergencies, influencing how individuals and firms manage their finances.
Speculative Motive
The speculative motive is the desire to hold cash or other assets with the expectation of making a profit from fluctuations in their price or value.
John Maynard Keynes
A British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
Classical Economists
Economists from the 18th and 19th centuries who focused on free markets, the role of competition, and the importance of limiting government intervention in the economy.
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