Keynes Argued That Monetary Policy Would Be Impotent During the Great

Multiple Choice

Keynes argued that monetary policy would be impotent during the Great Depression because

A) the LM curve was horizontal and the IS curve was vertical.
B) the LM curve was continuously shifting and the IS curve was vertical.
C) the LM curve was vertical and the IS curve was nearly flat.
D) both the LM curve and the IS curve were shifting rightward at the same time.