John Maynard Keynes described investors as having animal spirits, meaning that investors often make decisions based on
Question:
a. How might “animal spirits” explain the volatility of investment relative to consumption?
b. Consumers may also be motivated by emotion.
Why isn’t consumption extremely volatile?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
Question Posted: