Which of the following are the ranges of LM curve ? I. Classical Range II. Keynesian Range III.…
The three conventional ranges of the LM curve are Keynesian, intermediate and classical. The Keynesian range is horizontal, the intermediate range slopes upward and the…
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Which of the following are the ranges of LM curve ?
I. Classical Range
II. Keynesian Range
III. Monetarist Range
IV. Intermediate Range
Answer and explanation
Correct answer D
The three conventional ranges of the LM curve are Keynesian, intermediate and classical. The Keynesian range is horizontal, the intermediate range slopes upward and the classical range is vertical. Monetarist range is not a separate range in this classification.
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Karnataka SET (KSET)