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