单选题
What is the Classical Theory of the Rate of interest? It is something【C1】______we have all been【C2】______and which we have accepted without much【C3】______until recently. Yet I find it difficult to state it【C4】______or to discover an explicit【C5】______it in the leading treatises of the modern classical school. It is fairly clear, however, 【C6】______this tradition has regarded the rate of interest【C7】______the factor which brings the demand for investment and the willingness to save【C8】______equilibrium with one another. Investment represents the demand for investable resources and saving represents the【C9】______,【C10】______the rate of interest is the "price" of investable resources【C11】______the two are equated, 【C12】______the price of a commodity is necessarily fixed at the point where the demand for it is【C13】______the supply, so the rate of interest necessarily comes to rest under the play of market forces at the point where the amount of investment at【C14】______rate of interest is equal to the amount of saving at that rate. The【C15】______is not to be found in Marshall's Principles in so many words. 【C16】______his theory seems to be this, and【C17】______is what myself was brought up on and what I taught for many years others to others. 【C18】______this for example, the following passage from his Principles; "Interest, being the price paid for the use of capitals in any market, tends towards an equilibrium level such that the【C19】______demand for capital in that market, at that rate of interest, is equal to the aggregate stock forth coming at that rate. " Or again in Professor Cassel's Nature and Necessity of Interest it is explained that investment【C20】______the "demand for waiting" and saving the "supply of waiting" , whilst interest is a "price" which serves, it is implied, to equate the two, though here again I have not found actual words to quote.