a. What are three motives of money demand according to Keynes?
b. What is equation linking velocity and demand for money according to Keynesian Approach?
c. What is the impact on velocity as a result of
i. Economy goes in to a recession
ii. Credit cards are made illegal
iii. Interest rate rises
Hint: First check what happens to the demand for money, and then use the equation : V = Y/f(i,Y)