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?
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a If investors have animal spirits they may be more subject to s...View the full answer
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Related Book For 
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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