What motives for holding money-transactions, precautionary, or speculative-do you think explain the following holdings? Explain.

a. Currency in the cash register of the local grocery store at the start of each working day.

b. Money to meet Queen's University's biweekly payroll deposited in the local bank.

c. A household tries to keep a "buffer" of \(\$ 100 0\) in its savings account.

d. An investor sells bonds for cash, which she then deposits in a low-return bank account.

e. You carry \(\$ 20 \) in your pocket even though you have no planned expenditures.