Keynes Argued That the Precautionary Component of the Demand for Money

question 104

Multiple Choice

Keynes argued that the precautionary component of the demand for money was primarily determined by the level of people's ________,which he believed were proportional to ________.

• A)incomes;wealth
• B)incomes;age
• C)transactions;income
• D)transactions;age

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Definitions:

Rapidly Expanding Empire

Refers to a quick growth in the territorial size and influence of an empire, often seen through colonization, conquest, or annexation.

Great Spirit

A central figure in various Indigenous religions in North America, often conceived as a supreme deity or spiritual force that oversees the universe.

Pontiac

A leader and war chief of the Ottawa tribe, best known for his role in Pontiac's Rebellion (1763–1766), which sought to resist British military occupation of the Great Lakes region.

Pontiac's Rebellion

A conflict between Native American tribes and the British military forces in the Great Lakes region (1763-1766), led by Chief Pontiac, aiming to drive the British out of the territory.