What did Keynes use the term "animal spirits" to refer to?
A)debates by politicians concerning fiscal policy
B)arbitrary changes in attitudes of households and firms
C)mean-spirited economists who believed in the classical dichotomy
D)firms' relentless efforts to maximize profits

Question

Quizplus · Accepted Answer

Keynes used the term "animal spirits" to refer to arbitrary changes in the attitudes of households and firms that could lead to fluctuations in the economy, including changes in consumer confidence, willingness to invest, and risk-taking behavior.

What Did Keynes Use the Term "Animal Spirits" to Refer