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    Exam 12: The Business Cycle, Inflation, and Deflation
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    Keynes Used the Term "Animal Spirits" to Represent
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Keynes Used the Term "Animal Spirits" to Represent

Question 49

Question 49

Multiple Choice

Keynes used the term "animal spirits" to represent


A) changes in people's consumption expenditures.
B) the ease of forecasting.
C) fluctuations in business confidence.
D) investment based on hard facts about the future.

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