According to the early Keynesians, a. the money demand function was u

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.

ANSWER

A