In section 15.1, Keynes elaborates on the concept of liquidity-preference, as well as the taxonomy of it, in light of how it is influenced by the actions of the monetary authority and changes in the interest rate. He says that changes in the interest rate primarily effective the speculative-motive of liquidity-preference, whereas the transaction-motive (comprised of the income-motive and the business-motive) and the precautionary-motive are less affected by interest rate and more effected by changes in the levels of real income.