According to the Early Keynesians

According to the early Keynesians,

A) the money demand function was unstable; the interest elasticity of money demand was extremely high; and,as a consequence,changes in the quantity of money did not have important predictable effects on the level of economic activity.
B) the money demand function was stable; the interest elasticity of money demand was low; and,as a consequence,changes in the quantity of money did not have important predictable effects on the level of economic activity.
C) the money demand function was unstable; the interest elasticity of money demand was low; and,therefore,changes in the quantity of money did not have important effects on the level of economic activity.
D) the money demand function was stable; the interest elasticity of money demand was high; and,therefore,changes in the quantity of money did have important effects on the level of economic activity.