Which of the Following Is an Argument Used by Keynes

Multiple Choice

Which of the following is an argument used by Keynes and Hicks?

A) If hedgers hold long positions and speculators holds short positions, the futures price will tend to be higher than the expected future spot price
B) If hedgers hold long positions and speculators holds short positions, the futures price will tend to be lower than the expected future spot price
C) If hedgers hold long positions and speculators holds short positions, the futures price will tend to be lower than today's spot price
D) If hedgers hold long positions and speculators holds short positions, the futures price will tend to be higher than today's spot price