Step 1: Use Ohm's law.
For a V-I converter,
\[
I=\frac{V}{R}.
\]
Given,
\[
V=2\,\text{V},
\qquad
R=500\,\Omega.
\]
Step 2: Calculate the output current.
\[
I
=
\frac{2}{500}
=
0.004\,\text{A}
=
4\,\text{mA}.
\]
Hence,
\[
\boxed{4\,\text{mA}}
\]
Therefore,
\[
\boxed{(C)}
\]
is the correct answer.