According to the Keynesian model,
A. aggregate demand plays no part in determining the price level in a hyperinflationary economy.
B. aggregate demand alone determines the levels of output and employment when an economy is in the midst of a depression.
C. aggregate supply alone determines the price level when an economy experiences creeping inflation.
D. market economies can never be plagued by protracted downturns in economic activity.
B. aggregate demand alone determines the levels of output and employment when an economy is in the midst of a depression.
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