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Who among the following coined the term "animal spirits"?

1. David Ricardo
2. John Maynard Keynes
3. Thomas Malthus
4. John Stuart Mill

Correct answer: John Maynard Keynes

Solution

The term "animal spirits" was popularized by John Maynard Keynes to describe the instincts, emotions, and confidence that influence economic decision-making. It is a key concept in Keynesian economics.

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