1. You have just been chosen as an advisor to the president. After years of constant growth, the U.S. economy is beginning to fall into a recession. What type of fiscal policy will you suggest to the president, and why?

-Make sure to include what type of fiscal policy you would be appropriate, including the goal for the policy.

-Explain the 2 ways to conduct this type of fiscal policy, and explain how each of these affects the components of aggregate demand.

-Explain the impact of this policy to the entire macroeconomy in the short run. Be sure to use a step-by-step analysis of the macroeconomy, including other markets that should be affected.

-Include one possible limitation of the policy that would prevent it from achieving the desired goal.

2. Because you are an economics student, your parents are always asking you about the macroeconomy. Over the past few months, they have seen the economy expanding at a very fast pace, and they are worried about inflation. Your parents ask you, "What type of monetary policy do you expect the Federal Reserve to conduct if it expected high levels of inflation on the horizon?" Explain your answer.

-Make sure to include what type of monetary policy you would be appropriate, including the goal for the policy.

-Explain the way that this policy would be conducted and how it affects the components of aggregate demand.

-Explain the impact of this policy to the entire macroeconomy in the short run. Be sure to use a step-by-step analysis of the macroeconomy, including other markets that should be affected.

-Include one possible limitation of the policy that would prevent it from achieving the desired goal.

3. Your friend that hasn't taken any economics classes is arguing that trade is only good for rich countries. Explain to them why all countries can benefit from trade using what you learned in this class.

-Explain the concept of comparative advantage in your own words.

-Explain how specialization in the areas of comparative advantage can affect production in both rich and poor countries.

-How will it affect each country's consumer market? How will affect the producer market?

-Include what it means to have a market with willing participants and how this relates to consumer and producer surplus.

-Explain how through trade each country is able to consume at a point beyond their domestic production possibilities frontier. Include a description of what the production possibility frontier represents.

Note:- Help answer all three prompts in an essay type. And Please make sure the essay is related to economic content. Please make sure answer should be related to the points mention below each prompt