The concept of 'Liquidity Preference' theory of interest was given by:
A. Irving Fisher
B. Knut Wicksell
C. John Maynard Keynes
D. Classical economists
Answer: Option C
Solution (By JKSSB Mock Tests)
Keynes proposed the liquidity preference theory, which states that the rate of interest is determined by the demand for and supply of money, where demand arises from transactions, precautionary and speculative motives.
Explanation:
The Harrod-Domar model states that the growth rate of an economy depends on the savings rate and the capital-output ratio (or inverse of the productivity of capital).
Explanation:
Lifelong learning refers to the ongoing, voluntary and self-motivated pursuit of knowledge and skills throughout life, which becomes increasingly important as technological change accelerates the obsolescence of existing skills.
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