Which of the following statements is NOT a difference between the classical and Keynesianmonetary theories?
a) Keynes emphasized the role of the speculative demand for money, whereas classicaleconomists focused on the transactions demand
b) Classical economists use the quantity theory channel, while Keynesians use the interestrate channel.
c) Keynesian analysis emphasizes the long run, whereas the classical economists focus onthe short run.
d) The classical approach says that monetary changes directly affect the price level,the Keynesian approach states that changes in money affect the economy only indirectlythrough changes in interest rates and investment.