The demand for money L=0.25 Y and the supply of money \(\frac{\overline{M}}{P}\)=500. In this case
- the LM curve is vertical and defined by Y = 2000 and this defines the classical case
- the LM curve is vertical and defined by Y=125 and this defines the case of liquidity trap
- the LM curve is upward sloping and defined by Y = 2000
- the LM curve is horizontal and defined by Y = 2000 and this is a case of liquidity trap
The Correct Option is A
Solution and Explanation
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