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    Question

    Keynes assumed that the price level was fixed because

    A inflation was not a serious problem during the Great Depression. Correct Answer Incorrect Answer
    B his primary focus was on money supply. Correct Answer Incorrect Answer
    C his primary focus was on interest rates and investment spending. Correct Answer Incorrect Answer
    D Both (a) and (b) of the above. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Keynes assumed that the price level was fixed because inflation was not a serious problem during the Great Depression.

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