1.[Related to the Economics in Practice ] The Economics in Practice states that since recessions can be hard to forecast, the recognition lag can be long, as was the case with the recession of 2008–2009. Assuming that the recognition lag with regards to this recession was the same for both federal government and Federal Reserve policymakers, explain which type of policy, fiscal or monetary, should have been the quickest to take effect in the economy and with which of these policies should the economy have most rapidly adjusted to the newly implemented conditions.