1. Discuss Expansionary Fiscal Policy. Who is responsible for implementing fiscal policy? What may be adjusted to implement the policy? According to studies, fiscal policy can be slow to react to economic situations. Identify and discuss one reason why this may occur.

2. Discuss the workings of tight monetary policy. What is/are the possible objective/s of a tight monetary policy? What are the tools used to control the policy? When will it be necessary to impose tight monetary policy in an economy? Who is responsible for overseeing monetary policy in Australia?