In what sense is a vertical LM schedule a classical case? Why might Keynesians be pessimistic about the ability of monetary policy to stimulate output in situations such as the 1930s Depression in...

In what sense is a vertical LM schedule a classical case?

Why might Keynesians be pessimistic about the ability of monetary policy to stimulate output in situations such as the 1930s Depression in the United States or the recessions in

Japan in the 1990s? What type of policy would Keynesian economists expect to be effective

in such situations?