Economics · Macroeconomics
Which one of the following represents the aggregate money demand function (L) described by Keynes for determining the rate of interest?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1L = L2(Y) + L2(r)
- 2L = L1(Y) + L2(r)✓
- 3L = L2(r, Y)
- 4L = L1(r, Y)
Correct answer
L = L1(Y) + L2(r)
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