Problem
1. Why was the speculative demand for money so controversial?
2. Both the inventory-theoretic model of the transactions demand for money and Tobin's portfolio model are commonly called Neo-Keynesian models. Why?
3. Why did the testing of the demand for money grow rapidly at the expense of theorizing about the demand for money after Friedman published his theory?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.