Give below are two statements:
Statement - I: Friedman's theory of the demand for money is partly Keynesian and partly non-Keynesian.
Statement - II: It is non-Keynesian in that Friedman neglects completely Keynes' clarification of the motives for holding money and the corresponding components of demand for money.
In the light of the above statements, choose the correct answer from the options given below:
1
Both Statement I and Statement II are true.
2
Both Statement I and Statement II are false.
3
Statement I is true but Statement II is false.
4
Statement I is false but Statement II is true.