Keynes Argued That the Transactions Component of the Demand for Money

question 100

Multiple Choice

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

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

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Definitions:

Institutionalization

The process by which a practice, organization, or concept becomes established and accepted as a norm within society.

Deviance

Behaviors, thoughts, or actions that defy social norms or expectations, often leading to negative sanctioning.

Fraudulent Activity

Deceptive actions or schemes intentionally carried out for personal or financial gain at the expense of others.

Anomie Theory

A theory in sociology that suggests societal norms break down due to rapid changes, leading to social instability and deviance.