Question
How does the classical position on saving differ from Keynes's position? a.Classical position: changes in the interest rate are irrelevant to saving decisions. Keynes's position:
How does the classical position on saving differ from Keynes's position?
a.Classical position: changes in the interest rate are irrelevant to saving decisions. Keynes's position: saving is directly related to the interest rate
.b.Classical position: saving can be inversely related to the interest rate. Keynes's position: consumption rises as saving rises.
c.Classical position: people save more at lower interest rates. Keynes's position: people save less at lower interest rates.
d.Classical position: saving is directly related to the interest rate. Keynes's position: at times, saving may be inversely related to the interest rate.
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